2. (10pts) The manager of a convenient store wants to estimate the proportion of time staffs...
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2. (10pts) The manager of a convenient store wants to estimate the proportion of time staffs spend checking merchandise on the shelf. The manager wants a 99% confidence that the resulting estimate will be within 10% of the true value. a) If the manager feels the proportion is 50% before making observations on the proportion, what sample size should she use? b) Suppose that, in the first A observations stock clerks were found to be checking merchandise B times. (i) Determine the values of integers A (100 ≤A≤ 150), and B (10 ≤ B <A) in the following table. B A 125 50 (ii) Would the manager be convinced that the proportion of time staffs checking merchandise is the percentage of B/A? No, the manager would not be convinced by the proportion of the time staffs checking merchandise. Page 2 of 7 2. (10pts) The manager of a convenient store wants to estimate the proportion of time staffs spend checking merchandise on the shelf. The manager wants a 99% confidence that the resulting estimate will be within 10% of the true value. a) If the manager feels the proportion is 50% before making observations on the proportion, what sample size should she use? b) Suppose that, in the first A observations stock clerks were found to be checking merchandise B times. (i) Determine the values of integers A (100 ≤A≤ 150), and B (10 ≤ B <A) in the following table. B A 125 50 (ii) Would the manager be convinced that the proportion of time staffs checking merchandise is the percentage of B/A? No, the manager would not be convinced by the proportion of the time staffs checking merchandise. Page 2 of 7
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Answer rating: 100% (QA)
a The required sample size can be calculated using the formula n Z2 p q E2 where Z Zscore for the de... View the full answer
Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
Posted Date:
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