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Family-owned companies are notorious for having difficulties in transferring control from one generation to the next. Part of this problem can be traced to lack

Family-owned companies are notorious for having difficulties in transferring control from one generation to the next. Part of this problem can be traced to lack of a well-documented strategic business plan. In a sample of 3900 privately held family firms with revenues exceeding $1000,000 a year, it was found that 1911 had no strategic business plan. Use a 90% confidence interval to estimate the proportion family-owned companies that do not have a strategic business plan. Interpret this interval. Would a 80% confidence interval be wider or narrower?

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