Question
For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. The National Council of
For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. The National Council of Small Businesses is interested in the proportion of small businesses that declared Chapter 11 bankruptcy last year. Since there are so many small businesses, the National Council intends to estimate the proportion from a random sample. Letpbe the proportion of small businesses that declared Chapter 11 bankruptcy last year.(a) If no preliminary sample is taken to estimatep, how large a sample is necessary to be95%sure that a point estimatepwill be within a distance of0.11fromp? (Round your answer up to the nearest whole number.) small businesses (b) In a preliminary random sample of 30 small businesses, it was found thattwelvehad declared Chapter 11 bankruptcy. How manymoresmall businesses should be included in the sample to be95%sure that a point estimatepwill be within a distance of0.110fromp? (Round your answer up to the nearest whole number.) more small businesses
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