Question 9 A finance officer for a large company wants to find out an estimate for the percentage of company accounts whose payments are more than 30 days overdue. He carries out a survey by randomly selecting a sample of accounts. The results are shown in the table below. Number of days overdue Less than 10 days Between 10 and 30 days More than 30 days Number of accounts 80 28 42 a) Use the information in the table above to find the percentage of accounts in the sample that are more than 30 days overdue. b) Using your answer to part a), find the 90% confidence interval for the percentage of all the accounts in the company that are more than 30 days overdue. Give your answers to the nearest integer. c) The finance officer wants the total width of the 90% confidence interval in part b) to be less than 8%. Work out the smallest sample size that should be taken to achieve this.
Question 9 A finance officer for a large company wants to find out an estimate for the percentage of company accounts whose payments are more than 30 days overdue. He carries out a survey by randomly selecting a sample of accounts. The results are shown in the table below. Number of days overdue Less than 10 days Between 10 and 30 days More than 30 days Number of accounts 80 28 42 a) Use the information in the table above to find the percentage of accounts in the sample that are more than 30 days overdue. b) Using your answer to part a), find the 90% confidence interval for the percentage of all the accounts in the company that are more than 30 days overdue. Give your answers to the nearest integer. c) The finance officer wants the total width of the 90% confidence interval in part b) to be less than 8%. Work out the smallest sample size that should be taken to achieve this.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 26PFA
Related questions
Concept explainers
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Topic Video
Question
![Question 9
A finance officer for a large company wants to find out an estimate for the percentage of
company accounts whose payments are more than 30 days overdue. He carries out a
survey by randomly selecting a sample of accounts. The results are shown in the table
below.
Number of days overdue
Less than 10 days
Between 10 and 30 days
More than 30 days
Number of accounts
80
28
42
a) Use the information in the table above to find the percentage of accounts in the
sample that are more than 30 days overdue.
b) Using your answer to part a), find the 90% confidence interval for the percentage
of all the accounts in the company that are more than 30 days overdue.
Give your answers to the nearest integer.
c) The finance officer wants the total width of the 90% confidence interval in part b)
to be less than 8%. Work out the smallest sample size that should be taken to
achieve this.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F638e261a-c42c-46ef-873a-8e2d39442a11%2Ff283f32f-919a-4c9b-8f0b-3c382f378119%2Fzwljbjj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 9
A finance officer for a large company wants to find out an estimate for the percentage of
company accounts whose payments are more than 30 days overdue. He carries out a
survey by randomly selecting a sample of accounts. The results are shown in the table
below.
Number of days overdue
Less than 10 days
Between 10 and 30 days
More than 30 days
Number of accounts
80
28
42
a) Use the information in the table above to find the percentage of accounts in the
sample that are more than 30 days overdue.
b) Using your answer to part a), find the 90% confidence interval for the percentage
of all the accounts in the company that are more than 30 days overdue.
Give your answers to the nearest integer.
c) The finance officer wants the total width of the 90% confidence interval in part b)
to be less than 8%. Work out the smallest sample size that should be taken to
achieve this.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![Elementary Geometry For College Students, 7e](https://www.bartleby.com/isbn_cover_images/9781337614085/9781337614085_smallCoverImage.jpg)
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
![Algebra: Structure And Method, Book 1](https://www.bartleby.com/isbn_cover_images/9780395977224/9780395977224_smallCoverImage.gif)
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![Elementary Geometry For College Students, 7e](https://www.bartleby.com/isbn_cover_images/9781337614085/9781337614085_smallCoverImage.jpg)
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
![Algebra: Structure And Method, Book 1](https://www.bartleby.com/isbn_cover_images/9780395977224/9780395977224_smallCoverImage.gif)
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
![College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
![Holt Mcdougal Larson Pre-algebra: Student Edition…](https://www.bartleby.com/isbn_cover_images/9780547587776/9780547587776_smallCoverImage.jpg)
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
![Big Ideas Math A Bridge To Success Algebra 1: Stu…](https://www.bartleby.com/isbn_cover_images/9781680331141/9781680331141_smallCoverImage.jpg)
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt