It is desired to obtain a confidence interval for a proportion p of businesses that plan to hire new employees in the next quarter. If thwe want an interval with confidence level 90 and a margin of error 0.03. What is the minimum sample size required to achieve this. p= 0.5

It is desired to obtain a confidence interval for a proportion p of businesses that plan to hire new employees in the next quarter. If thwe want an interval with confidence level 90 and a margin of error 0.03. What is the minimum sample size required to achieve this. p= 0.5

Name: It is desired to obtain a confidence interval for a proportion p of bu
Uploaded: 2024-03-20T07:07:00.000Z
Channel: Bartleby
Description: It is desired to obtain a confidence interval for a proportion p of businesses that plan to hire new employees in the next quarter. If thwe want an interval with confidence level 90 and a margin of error 0.03. What is the minimum sample size required

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Suppose that the population standard deviation of a student's score is 20. Choose a sample size so that the resulting 95% confidence interval for the population mean score has a margin of error no larger than 5.
The length of a certain type of fish is normally distributed with mean and standard deviation sigma = 2.4 inches. The margin of error for a 99% confidence interval is desired to be 0.08 inches. What should be the sample size?
0.56 ppm is the maximum authorized concentration of phosphate in drinking water. Given below is the analysis of various samples of bottled water from the same batch of production. Is there an outlier present in the data set at 95% confidence interval? What is the t-tab and t-calc for the data set? Can the water be used for drinking? Use outlier tests Sample Phosphate (ppm) 1 0.26 2 0.46 3 0.41 4 0.49 5 0.38
Determine the sample size needed to estimate a population with a mean of 10 units given that the population standard deviation is 50; use a confidence level of 90%.
An farmer is convinced that the weighing instrument for palay had a variability measured by standard deviation equal to 2. He recorded the measurements 4.1, 6.5, 5.2 and 10.2. Do these data confirm or disprove his assertion? Use a 95% confidence level.
In a random sample of 17 people, the mean commute time to work was 30.2 minutes and the standard deviation was 7.1 minutes. Assume the population is normally distributed and use a t- distribution to construct a 95% confidence interval for the population mean y. What is the margin of error of y? Interpret the results.
If N = 25, ?̅= 135, s = 24 and assuming that the population is normally distributed,construct a 95% confidence interval estimate for the population mean.
Next question If a sample proportion is 0.68, which of the following could be a 90% confidence interval for the population proportion? ..... Select all that apply. A. Lower bound: 0.59; Upper bound: 0.77 B. Lower bound: 0.66; Upper bound: 0.70 OC. Lower bound: 0.50; Upper bound: 0.77 D. Lower bound: 0.77; Upper bound: 0.95 E. Lower bound: 0.67; Upper bound: 0.71 F3 F4 F5 F7 F8 24 4. %23 2 3. 6. Left control option command
ACT scores are normally distributed with mean 22 and standard deviation 4.7. A random sample of 32 MiSU students has a mean ACT of 23.6. A. Estimate the mean ACT score for all MiSU students at the 95% confidence level. B. If we want to estimate the mean ACT score for all MiSU students at the 99% confidence level with a margin of error of 10, then what sample size will we need?
Costs are rising for all kinds of medical care. The mean monthly rent at assisted living facilities was reported to have increased 17% over the last five years to $3486. Assume this cost estimate is based on a sample of 120 facilities and from past studies, it can be assumed that the sample standard deviation is $650. Develop a 90% confidence interval estimate of the population mean monthly rent. Develop a 95% c0nfidence interval estimate of the population mean monthly rent. Develop a 99% confidence interval estimate of the population mean monthly rent, What happens to the width of the confidence interval as the confidence level is increased. Does this seem reasonable? Explain. excel please
Suppose that for a random sample of 200 firms that revalued their fixed assets, the mean ratio of debt to tangible assets was 0.517 and the sample standard deviation was 0.148. For an independent random sample of 400 firms that did not revalue their fixed assets, the mean ratio of debt to tangible assets was 0.489 and the sample standard deviation was 0.158. Find a 99% confidence interval for the difference between the two population means.