In a study of the possible use of sampling to cut down the work in taking...

 

Transcribed Image Text:

In a study of the possible use of sampling to cut down the work in taking inventory in a stock room, a count is made of the value of the articles on each of 36 shelves in the room. The values to the nearest dollar are as follows. 29, 38, 42, 44, 45, 47,51,53, 53,54, 56, 56, 56, 58, 58, 59, 60, 60, 60, 60, 61, 61, 61, 62, 64, 65, 65, 67, 67, 68, 69, 71,74, 77, 82, 85. The estimate of total value made from a sample is to be correct within $200, apart from a 1 in 20 chance. An advisor suggests that a simple randomsample of 12 shelves will meet the requirements. Do you agree? Σν= 2138, Ey? = 131,682 In a study of the possible use of sampling to cut down the work in taking inventory in a stock room, a count is made of the value of the articles on each of 36 shelves in the room. The values to the nearest dollar are as follows. 29, 38, 42, 44, 45, 47,51,53, 53,54, 56, 56, 56, 58, 58, 59, 60, 60, 60, 60, 61, 61, 61, 62, 64, 65, 65, 67, 67, 68, 69, 71,74, 77, 82, 85. The estimate of total value made from a sample is to be correct within $200, apart from a 1 in 20 chance. An advisor suggests that a simple randomsample of 12 shelves will meet the requirements. Do you agree? Σν= 2138, Ey? = 131,682

Answer rating: 100% (QA)

ANS Margin of Rmor 200 36 for estimate of averege Signitican... View the full answer