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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Department of Education was analysing the average mathematics test score in the schools in Victoria. It noticed that there were dramatic differences in scores among the schools. In the attempt to improve the scores of all the schools, department attempted to determine the factors that account for the differences. Accordingly, they took a random sample of 40 schools across the state and for each determined the mean test score last year, the percentage of teachers in the schools who have at least one university degree in mathematics, the mean age and the mean annual income of the mathematics teachers. The following is regression output from Excel. SUMMARY OUTPUT Regression Statistics Multiple R 0.597512 R Square 0.357021 Adjusted R Square 0.303439 Standard Error 7.724526 Observations 40 ANOVA df SS MS F Significance F…
Levi-Strauss Co manufactures clothing. The quality control department measures weekly values of different suppliers for the percentage difference of waste between the layout on the computer and the actual waste when the clothing is made (called run-up). The data is in the table, and there are some negative values because sometimes the supplier is able to layout the pattern better than the computer. Do the data show that there is a difference between some of the suppliers? Test at the 1% level. Run-ups for Different Plants Making Levi Strauss Clothing Difference Plant Plant 1 11.9 Plant 1 3.9 -10.6 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 1 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 2 Plant 3 Plant 3 Plant 3 Plant 3 Plant 3 Plant 3 Plant 3…
A person is interested in studying the amount of time (in minutes ) people spend on social media in a day. The following data is collected from a sample of 12 people : 45, 60,25,55,75,90,100,120,105,80, 0 and 220. Does the data contain outlier(s)? Explain your reasoning. ( use empirical rule and use the quartile method to check ).
Historically, the proportion of students entering a university who finished in 4 years or less was 63%. To test whether this proportion has decreased, 120 students were examined and 52% had finished in 4 years or less. To determine whether the proportion of students who finish in 4 year or less has statistically significantly decreased (at the 5% level of signficance), what is the p-value? (please round your answer to 4 decimal places)
The IRS is interested in estimating the total number of tax accounts who has their own tax returns audited last year. If a random sample of 80 returns showed that 12 were audited, develop a 95% interval estimate for true proportion (population proportion) of tax accounts who had their returns audited last year.
GMU uses a robot food delivery service which now has been utilized in the City of Fairfax. One of the potential benefits of this service is to help the busiest students eat breakfast. Research has shown that about 80% of college students skip breakfast due to busy schedules and other reasons. Initial data were collected from a random sample of 595 Mason students who utilize the robot food delivery service and are presented in StatCrunch. Show the full calculation of the sample proportion by including the number of students who skipped breakfast, the total number of students sampled, and the value of the sample proportion. Present this sample proportion as a decimal rounded to four decimal places. Frequency table results for Breakfast?Count = 595 Breakfast? Frequency Relative Frequency 0 142 0.23865546 1 453 0.76134454
Color blindness, or dyschromatopsia, is a form of genetic deficiency in color perception. The condition is much more prevalent among males than females, pointing to a genetic connection with the X chromosome. The frequency of dyschromatopsia in the Caucasian American male population is about 7%. However, it is thought that this proportion might be smaller among males of other ethnicities. We want to estimate the proportion of Asian American males who are color-blind. How large a sample size do we need in order to obtain a 95% confidence interval with a margin of error no greater than 5%, or 0.05? Use 0.5 for p̂.
Where are most of the data gathered in a negatively skewed distribution? Which value is largerthe mean or the median?
A nationwide job recruiting firm wants to compare the annual incomes for childcare workers in Connecticut and California. Due to recent trends in the childcare industry, the firm suspects that the that the mean annual income of childcare workers in the state of Connecticut is greater than the mean annual income of childcare workers in California. To see if this is true, the firm selected a random sample of 10 childcare workers from Connecticut and an independent random sample of 10 childcare workers from California and asked them to report their mean annual income. The data obtained were as follows. 80°F Partly sunny Annual income in dollars Connecticut 42438, 52287, 46837, 49334, 52848, 52929, 57111, 51860, 44967, 52174 California 50998, 38334, 56804, 50919, 49446, 41141, 45717, 43963, 55156, 47295 LL D 144Hz Send data to calculator V The population standard deviations for the annual incomes of childcare workers in Connecticut and in California are estimated as 6300 and 6100,…

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