Question: The confidence interval created in Exercise 20 is quite wide
The confidence interval created in Exercise 20 is quite wide. How large a sample would be necessary if the company wanted to estimate the percentage of its accounts receivable that were 0 to 30 days old to within 5%, with 95% confidence?
Answer to relevant QuestionsA college surveys incoming students every year. An excerpt of one such survey, for business students only, is available in MyStatLab (you may have looked at this data set for the Test Your Knowledge exercise at the end of ...A survey of 30 employees living in a large metropolitan area yielded an average of 54.2 hours of work per week, with a standard deviation of 3.2 hours. Provide a 99% confidence interval for average hours of work per week for ...A number of economic analysts were asked to rate their expectations for the economies of North America and Europe over the coming year, according to the following scale: (4) prospects are very promising; (3) prospects are ...A small company that specializes in gourmet cookies decides to redesign its packaging. The company owner is certain that the new package will lead to increased sales. Weekly sales at a random sample of stores in the Barrie ...The manager of a financial planning firm is trying to train her staff to make greater use of their working time. To see whether this training is having any effect, she keeps track of monthly new business generated before and ...
Post your question