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

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

Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter6: Statistical Inference
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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 45 observations. a. What is the estimated percentage of idle time? b. Based on the initial results, approximately how many observations would you require to estimate the actual percentage of idle time to within 5 percent with a confidence of 95 percent?
Transcribed Image Text: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 45 observations. a. What is the estimated percentage of idle time? b. Based on the initial results, approximately how many observations would you require to estimate the actual percentage of idle time to within 5 percent with a confidence of 95 percent?
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