In an initial survey designed to estimate the percentage of time air-express cargo loaders are idle, an analyst found that loaders were idle in 6 of the 50 observations.What is the estimated percentage of idle time? Based on the initial results, approximately how many more observations would you require to estimate the actual percentage of idle time to within 5% with a confidence of 95%?

Estimated percentage of idle time = (Idle observations/Total observations) *100 = (6/50) *100 = 12%…

Answered: In an initial survey designed to…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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In an initial survey designed to estimate the percentage of time air-express cargo loaders are idle, an analyst found that loaders were idle in 6 of the 50 observations.

What is the estimated percentage of idle time?
Based on the initial results, approximately how many more observations would you require to estimate the actual percentage of idle time to within 5% with a confidence of 95%?

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