Strategic business planning is required for the successful transfer of control between generations in family-owned companies. However, a surveyof 315 privately held family firms whose annual turnover exceeded one million dollars it was found that 80 had no strategic business plan.Assuming that simple random sampling was employed to determine the sample for the survey, estimate with 95 % confidence the proportion offamily owned companies operating without strategic business plans. Give the upper limit only and report your answer correct to three decimalplaces

Given information:Sample size (n) = 315Number of family firms with no strategic plan (x) = 80We were…

Answered: Strategic business planning is required…

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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And automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic. Suppose a sample of 383 new car buyers is drawn, of those sampled 137 prefer foreign over domestic. Using the data, estimate the proportion of new car buyers who prefer foreign cars. Enter your answer as a fraction or decimal rounded to three decimal places.
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