HOW Do I solve this in EXCEL In 2016, the Better Business Bureau (BBB) settled 80% of complaints they received in the US. Suppose you have been hired by the BBB to investigate the complains they received this year involving new car dealers. You plan to select a sample of new car dealer complaints to estimate the proportion of complaints the BBB is able to settle. Assume the population proportion of complaints settled for new car dealers is 0.8, the same as the overall proportion of complaints settled in 2016. Suppose you select a sample of 200 complaints involving new car dealers. Show the sampling distribution of pbar.Based on a sample of 200 complaints, what is the probability that the sample proportion will be within 0.04 of the population proportion?Suppose you select a sample of 450 complaints involving new car dealers. Show the sampling distribution of pbar.Based on the smaller sample of only 450 complaints, what is the probability that the sample proportion will be within 0.04 of the population proportion?As measured by the increase in probability, how much do you gain in precision by taking the larger sample in part (d)?

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Answered: HOW Do I solve this in EXCEL In 2016,…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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HOW Do I solve this in EXCEL

In 2016, the Better Business Bureau (BBB) settled 80% of complaints they received in the US. Suppose you have been hired by the BBB to investigate the complains they received this year involving new car dealers. You plan to select a sample of new car dealer complaints to estimate the proportion of complaints the BBB is able to settle. Assume the population proportion of complaints settled for new car dealers is 0.8, the same as the overall proportion of complaints settled in 2016.

Suppose you select a sample of 200 complaints involving new car dealers. Show the sampling distribution of pbar.
Based on a sample of 200 complaints, what is the probability that the sample proportion will be within 0.04 of the population proportion?
Suppose you select a sample of 450 complaints involving new car dealers. Show the sampling distribution of pbar.
Based on the smaller sample of only 450 complaints, what is the probability that the sample proportion will be within 0.04 of the population proportion?
As measured by the increase in probability, how much do you gain in precision by taking the larger sample in part (d)?

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