Spreadsheet Modeling & Decision Analysis: A Practical Introduction To Business Analytics, Loose-leaf Version
8th Edition
ISBN: 9781337274852
Author: Ragsdale, Cliff
Publisher: South-Western College Pub
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The 2003 Statistical Abstract of the United States reported the percentage of people 18 years of age and older who smoke. Suppose that a study designed to collect new data on smokers and nonsmokers uses a preliminary estimate of the proportion who smoke
of .30.
a. How large a sample should be taken to estimate the proportion of smokers in the population with a margin of error of .02? Use 95% confidence. Remove all commas from your answer before submitting. Round your answer to next whole number.
b. Assume that the study uses your sample size recommendation in part (a) and finds 520 smokers. What is the point estimate of the proportion of smokers in the population? (to 4 decimals)
c. What is the 95% confidence interval for the proportion of smokers in the population? (to 4 decimals)
Contrast the planning approach when dealing with data certainty verses uncertainty
1/If you were the employee committing fraud, what would you try to do with the data to evade detection?
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3/What do you notice about the street vendor and employee street addresses?
4/Are there any false positives (fuzzy matches that don't really match)?
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