A company believes its market share is about 14%. Find the minimum required sample size for estimating

Question:

A company believes its market share is about 14%. Find the minimum required sample size for estimating the actual market share to within 5% with 90% confidence.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Complete Business Statistics

ISBN: 9780077239695

7th Edition

Authors: Amir Aczel, Jayavel Sounderpandian

See More Books

Question Posted: Jun 03, 2015 05:56 AM

See More Questions

Find the required sample size for estimating the population mean in order to be 95% confident that the sample mean is within 10 units of the population mean. Assume that the population standard...
Find the minimum required sample size for estimating the average return on real estate investments to within 0.5% per year with 95% confidence. The standard deviation of returns is believed to be 2%...
Find the minimum required sample size for estimating the average number of designer shirts sold per day to within 10 units with 90% confidence if the standard deviation of the number of shirts sold...
Lockdown forcing construction sector to think more strategically about tech adoption. Why?
The schedule below shows the number of packs of bagels bought in Davis, California, each day at a variety of prices Price of bagels ($/pack)Number of packs purchased per day 6 0 53,000 46,000 39,000...
The Booth Company?s sales are forecasted to double from $1,000 in 2019 to $2,000 in 2020. Here is the December 31, 2019, balance sheet: Booth?s fixed assets were used to only 50% of capacity during...
Define outsourcing and offshoring. Compare and contrast the two as HR administrative tools. Give examples of the decision factors to consider when choosing one over the other.
The adjusted trial balance of Amana Corporation at December 31 shows that sales revenue for the year was $513,000 and other revenue was $37,000. Cost of goods sold for that same period was $256,000,...
The following dataset on supermarket sales is obtained from Kaggle. It contains a sample dataset from the internal database of a supermarket from three different branches for three months. The...
The bicyclic alkene car-3-ene, a constituent of turpentine, undergoes catalytic hydrogenation to give only one of the two possible stereoisomeric products. The product has the common name cis-carane,...
A company that conducts surveys of current jobs for executives wants to estimate the average salary of an executive at a given level to within $2,000 with 95% confidence. From previous surveys it is...
Find the minimum required sample size of accounts of the Bechtel Corporation if the proportion of accounts in error is to be estimated to within 0.02 with 95% confidence. A rough guess of the...
Explain how simulation works. What is the value in using a simulation approach?
Observer A is on Earth looking at the Moon, and observer B is on the Moon looking at Earth. Which of the following quantities do the observers agree on for the Earth-Moon system: inertia, energy,...
A satellite moves at speed $v$ in very low orbit about a moon that has no atmosphere. You launch a projectile vertically from the same moon's surface at the same speed $v$. To what height does it...
You pick up your physics book from the floor and put it on your desk. In the Earth reference frame, which of the following quantities have changed for the system made up of Earth and the book: mass,...
Under GAAP, receivables are reported on the balance sheet (statement of financial position) at: a. gross amount. b. gross amount less allowance for doubtful accounts. c. historical cost. d....
A satellite in an elliptical orbit around Earth has a speed of $8032 \mathrm{~m} / \mathrm{s}$ when it is at perigec, the position in the orbit closest to Earth. At this position, the satellite is...
A nurse researcher is studying the impact of social media usage on the quality of adolescent relationships. She identifies 22 teen subjects and asks about whom they contact on Facebook, via Twitter,...
The process of collaborative goal setting by a manager and subordinate, the extent to which goals are accomplished is a major factor in evaluating and rewarding the subordinate's performance. It is...
Among the 641 people who responded to the USA Today survey, what is the percentage of respondents who chose the category of boss? When considered in the context of the population of all workers, is...
Listed below are times (minutes) spent on hygiene and grooming in the morning (by randomly selected subjects) (based on data from a Svenska Cellulosa Aktiebolaget survey). Construct a table...
Use the frequency distribution from Exercise 6 to construct a histogram. Based on the result, do the data appear to be from a population with a normal distribution? Explain.
Siran plans to contribute $850 at the start of every half year to an investment that ears 7% compounded monthly. If Siran starts contributing on his 37th birthday, how much will he accumulate by his...
Milwaukee Insurance Company (MIC) has entered into a four-year plain vanilla swap with a counterparty. The notional principal is $80 million. MIC will pay payments based on a floating rate of the...
Newton Bay is a sparsely populated area. The government plans to build an international airport there and announces this plan publicly. When hotel chains learn about the airport, they become...

A company believes its market share is about 14%. Find the minimum required sample size for estimating

Question:

Step by Step Answer:

An estimate of p is ...View the full answer

Complete Business Statistics

Students also viewed these Statistics questions