Question
a)A fast food company wants to determine the average number of times that fast food users visit fast food restaurants per week. They have decided
a)A fast food company wants to determine the average number of times that fast food users visit fast food restaurants per week. They have decided that their estimate needs to be accurate within 0.5 of a visit, and they want to be 95% sure. Previous research has shown that the s = 2.6 visits. What is the required sample size?
b)A researcher wants to estimate the proportion of new businesses that go bankrupt in their first year of operation. A random sample of 200 new businesses is taken and 45 of these went bankrupt in their first year of operation. Compute the 99% confidence interval for the proportion of businesses that go bankrupt in their first year of operation.
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