Bank manager Art Hill wants to determine the percentageof time that tellers are working and idle. He decides touse work sampling, and his initia l estimate is that the tellers a reid le 15% of the time. How many observations should Hill take tobe 95.45% confident that the results wi ll not be more than ± 4%from the true result?
Bank manager Art Hill wants to determine the percentageof time that tellers are working and idle. He decides touse work sampling, and his initia l estimate is that the tellers a reid le 15% of the time. How many observations should Hill take tobe 95.45% confident that the results wi ll not be more than ± 4%from the true result?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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| Bank manager Art Hill wants to determine the percentage of time that tellers are working and idle. He decides to use work sampling, and his initia l estimate is that the tellers a re id le 15% of the time. How many observations should Hill take to be 95.45% confident that the results wi ll not be more than ± 4% from the true result? |
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