The manager of a local recreational center wanted to determine the average amount each consumer spent...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The manager of a local recreational center wanted to determine the average amount each consumer spent on traveling to and from the center. On the basis of the findings, the manager was planning on setting the entrance fee. The management noted that customers living at the other side of town had to travel about 15 miles and spent about 20 cents per mile. The manager wanted to be 95% confident of the findings and did not want the margin of error to exceed +/- 10 cents. What sample size should the manger use to determine the average travel expenditure? (40pts) The manager of a local recreational center wanted to determine the average amount each consumer spent on traveling to and from the center. On the basis of the findings, the manager was planning on setting the entrance fee. The management noted that customers living at the other side of town had to travel about 15 miles and spent about 20 cents per mile. The manager wanted to be 95% confident of the findings and did not want the margin of error to exceed +/- 10 cents. What sample size should the manger use to determine the average travel expenditure? (40pts)
Expert Answer:
Answer rating: 100% (QA)
To determine the sample size needed for the manager to determine the average travel expenditure we c... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
The management of a local restaurant wants to determine the average monthly amount spent by households in restaurants. Some households in the target market do not spend anything at all. Whereas other...
-
The homogeneous rectangular block having dimensions a-1.93, b=2.75 as shown, and mass m, rests on the inclined plane which is hinged about a horizontal axis through O. Calculate the minimum value of...
-
Do Problem 11.8 with R-134a as the working fluid in the Rankine cycle.
-
What are the actual new McDonald diagnostic criteria that neurologists use to make a diagnosis of Multiple Sclerosis?
-
Two machines are used to fill cans. The machines are supposed to fill each can with 12 ounces of liquid. The amounts actually filled follow a normal distribution. A simple random sample of 10 cans is...
-
In auditing the Train Company, you obtain directly from the bank Trains bank statement, canceled checks, and other memoranda which relate to the companys bank account for December 2007. In...
-
The following information is available for Blue Spruce Corp. for 2022. Cash used to purchase treasury stock Cash dividends paid $111,592 50,576 Cash paid for interest Net income 51,968 1,077,176...
-
JOB ANALYSIS AND DESIGN Case Study: How Google Searches for the Right Job Requirements Each year, around 2.5 million people apply to work at Googleabout 60 rsums for every current employee. What...
-
You are considering buying a new printing press for your business. You can purchase the Heidelberg press at an initial cost of $400,000. The Heidelberg will last 5 years. The cost of operating and...
-
Multiply. (9u+7w) (9u-7w) Simplify your answer.
-
Crane Home Inc., a real estate developing company, was accounting for its long-term contracts using the completed contract method prior to 2024. In 2024, it changed to the percentage-of-completion...
-
A classic example of variables related in a curvilinear fashion is age and compensation salary why?
-
Complete the following nuclear equations: When doing these equations you are obeying the law of conservation of mass and charge. What this means is that the sum of top numbers (masses) on the left...
-
12) Solve: 8x-1=323x
-
15 large paper shredders were tested under continuous operating conditions for 6.5 hours each. 6 shredders experienced a malfunction during the testing. what is the failure rate for the shredders?
-
For each of the following reactions, express the equilibrium constant: a) H20 (I) H2 (g) + 02 (g) Ke = 1.0x107 b) Fe2 (g) 2F (g) Ke= 4.9 x 10-21 c) C (s) + O2 (g) d) H2 (g) + C2H4 (g) C2H6 (g) Ke =...
-
Maple Leaf Foods (MLF) is a Canadian manufacturer of meat and baked products that is listed on the Toronto Stock Exchange. On the morning of July 27, 2007, the company issued a press release with its...
-
In the past, accounting standards in Canada required intangible assets to be recorded at purchase cost if they were purchased from a market transaction. Costs incurred on internally generated...
-
Obtain the annual report for Air Canada for the fiscal year ended December 31, 2013, either through the companys website or through SEDAR (www.sedar.com). Required: a. How much did the company have...
-
Can we use the numerical integration methods discussed in this chapter to solve nonlinear vibration problems?
-
Houbolt method a. Assumes that acceleration varies linearly between \(t_{i}\) and \(t_{i}+\theta \Delta t ; \theta \geq 1\) b. Assumes that acceleration varies linearly between \(t_{i}\) and...
-
Express the following \(n\) th-order differential equation as a system of \(n\) first-order differential equations: \[a_{n} \frac{d^{n} x}{d t^{n}}+a_{n-1} \frac{d^{n-1} x}{d t^{n-1}}+\cdots+a_{1}...
Study smarter with the SolutionInn App