The business manager of a large company wants to check the inventory records against the physical inventories by a sample survey. He wants to be almost sure that the maximum sampling error should not be more than 5% above or below the true proportion of the inaccurate records. The proportion of the inaccurate records is estimated at 35% from past experiences. Determine the sample size?

The business manager of a large company wants to check the inventory records against the physical inventories by a sample survey. He wants to be almost sure that the maximum sampling error should not be more than 5% above or below the true proportion of the inaccurate records. The proportion of the inaccurate records is estimated at 35% from past experiences. Determine the sample size?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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