The National Council of Small Businesses is interested in the proportion of small businesses that declared Chapter
Question:
(a) If no preliminary sample is taken to estimate p, how large a sample is necessary to be 95% sure that a point estimate will be within a distance of 0.10 from p?
(b) In a preliminary random sample of 38 small businesses, it was found that six had declared Chapter 11 bankruptcy. How many more small businesses should be included in the sample to be 95% sure that a point estimate will be within a distance of 0.10 from p?
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Related Book For
Understanding Basic Statistics
ISBN: 9781111827021
6th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase
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