Essentials of Statistics for Business and Economics, Loose-leaf Version
8th Edition
ISBN: 9781337114196
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 8.4, Problem 42E
A poll for the presidential campaign sampled 491 potential voters in June. A primary purpose of the poll was to obtain an estimate of the proportion of potential voters who favored each candidate. Assume a planning value of p* = .50 and a 95% confidence level.
- a. For p* = .50, what was the planned margin of error for the June poll?
- b. Closer to the November election, better precision and smaller margins of error are desired. Assume the following margins of error are requested for surveys to be conducted during the presidential campaign. Compute the recommended
sample size for each survey.
| Survey | Margin of Error |
| September | .04 |
| October | .03 |
| Early November | .02 |
| Pre-Election Day | .01 |
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)
I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)
This exercise is based on the following data on four bodybuilding supplements. (Figures shown correspond to a single serving.)
Creatine(grams)
L-Glutamine(grams)
BCAAs(grams)
Cost($)
Xtend(SciVation)
0
2.5
7
1.00
Gainz(MP Hardcore)
2
3
6
1.10
Strongevity(Bill Phillips)
2.5
1
0
1.20
Muscle Physique(EAS)
2
2
0
1.00
Your personal trainer suggests that you supplement with at least 10 grams of creatine, 39 grams of L-glutamine, and 90 grams of BCAAs each week. You are thinking of combining Xtend and Gainz to provide you with the required nutrients. How many servings of each should you combine to obtain a week's supply that meets your trainer's specifications at the least cost? (If an answer does not exist, enter DNE.)
servings of xtend servings of gainz
Chapter 8 Solutions
Essentials of Statistics for Business and Economics, Loose-leaf Version
Ch. 8.1 - A simple random sample of 40 items resulted in a...Ch. 8.1 - 2. A simple random sample of 50 items from a...Ch. 8.1 - A simple random sample of 60 items resulted in a...Ch. 8.1 - 4. A 95% confidence interval for a population mean...Ch. 8.1 - Data were collected on the amount spent by 64...Ch. 8.1 - Travel Taxes. In an attempt to assess total daily...Ch. 8.1 - 7. The average annual cost of the first year of...Ch. 8.1 - Studies show that massage therapy has a variety of...Ch. 8.1 - Cost to Repair Fire Damage. The mean cost to...Ch. 8.1 - 10. Costs are rising for all kinds of medical...
Ch. 8.2 - For a t distribution with 16 degrees of freedom,...Ch. 8.2 - Find the t value(s) for each of the following...Ch. 8.2 - The following sample data are from a normal...Ch. 8.2 - A simple random sample with n = 54 provided a...Ch. 8.2 - 15. Sales personnel for Skillings Distributors...Ch. 8.2 - Years to Bond Maturity. A sample containing years...Ch. 8.2 - Quality Ratings of Airports. The International Air...Ch. 8.2 - Unemployment in Older Workers. Older people often...Ch. 8.2 - Meal Cost in Hong Kong. The mean cost of a meal...Ch. 8.2 - Automobile Insurance Premiums. The average annual...Ch. 8.2 - Telemedicine. Health insurers are beginning to...Ch. 8.2 - Movie Ticket Sales. Marvel Studios motion picture...Ch. 8.3 - 23. How large a sample should be selected to...Ch. 8.3 - The range for a set of data is estimated to be 36....Ch. 8.3 - Refer to the Scheer Industries example in Section...Ch. 8.3 - Prob. 26ECh. 8.3 - Prob. 27ECh. 8.3 - 28. Many medical professionals believe that eating...Ch. 8.3 - 29. Customers arrive at a movie theater at the...Ch. 8.3 - Prob. 30ECh. 8.4 - A simple random sample of 400 individuals provides...Ch. 8.4 - A simple random sample of 800 elements generates a...Ch. 8.4 - In a survey, the planning value for the population...Ch. 8.4 - At 95% confidence, how large a sample should be...Ch. 8.4 - Prob. 35ECh. 8.4 - According to statistics reported on CNBC, a...Ch. 8.4 - Prob. 37ECh. 8.4 - 38. According to Franchise business review, over...Ch. 8.4 - In 16% of all homes with a stay-at-home parent,...Ch. 8.4 - Prob. 40ECh. 8.4 - Prob. 41ECh. 8.4 - 42. A poll for the presidential campaign sampled...Ch. 8.4 - Prob. 43ECh. 8 - 44. A sample survey of 54 discount brokers showed...Ch. 8 - 45. A survey conducted by the American Automobile...Ch. 8 - 46. The 92 million Americans of age 50 and over...Ch. 8 - Prob. 47SECh. 8 - The Health Care Cost Institute tracks health care...Ch. 8 - Prob. 49SECh. 8 - Prob. 50SECh. 8 - 51. In developing patient appointment schedules, a...Ch. 8 - Prob. 52SECh. 8 - 53. The National Center for Education Statistics...Ch. 8 - A USA Today/CNN/Gallup survey of 369 working...Ch. 8 - Prob. 55SECh. 8 - Prob. 56SECh. 8 - The Centers for Disease Control reported the...Ch. 8 - A well-known bank credit card firm wishes to...Ch. 8 - Prob. 59SECh. 8 - 60. Although airline schedules and cost are...Ch. 8 - Young Professional Magazine Young Professional...Ch. 8 - Gulf Real Estate Properties Gulf Real Estate...Ch. 8 - Metropolitan Research, Inc.
Metropolitan Research,...
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.Similar questions
- I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardDATA TABLE VALUES Meal Price ($) 22.78 31.90 33.89 22.77 18.04 23.29 35.28 42.38 36.88 38.55 41.68 25.73 34.19 31.75 25.24 26.32 19.57 36.57 32.97 36.83 30.17 37.29 25.37 24.71 28.79 32.83 43.00 35.23 34.76 33.06 27.73 31.89 38.47 39.42 40.72 43.92 36.51 45.25 33.51 29.17 30.54 26.74 37.93arrow_forward
- I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardSales personnel for Skillings Distributors submit weekly reports listing the customer contacts made during the week. A sample of 65 weekly reports showed a sample mean of 19.5 customer contacts per week. The sample standard deviation was 5.2. Provide 90% and 95% confidence intervals for the population mean number of weekly customer contacts for the sales personnel. 90% Confidence interval, to 2 decimals: ( , ) 95% Confidence interval, to 2 decimals:arrow_forwardA simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is 5. a. What is the standard error of the mean (to 2 decimals)? b. At 95% confidence, what is the margin of error (to 2 decimals)?arrow_forward
- mean trough level of the population to be 3.7 micrograms/mL. The researcher conducts a study among 93 newly diagnosed arthritis patients and finds the mean trough to be 4.1 micrograms/mL with a standard deviation of 2.4 micrograms/mL. The researcher wants to test at the 5% level of significance if the trough is different than previously reported or not. Z statistics will be used. Complete Step 5 of hypothesis testing: Conclusion. State whether or not you would reject the null hypothesis and why. Also interpret what this means (i.e. is the mean trough different from 3.7 or noarrow_forward30% of all college students major in STEM (Science, Technology, Engineering, and Math). If 48 college students are randomly selected, find the probability thata. Exactly 12 of them major in STEM. b. At most 17 of them major in STEM. c. At least 12 of them major in STEM. d. Between 9 and 13 (including 9 and 13) of them major in STEM.arrow_forward7% of all Americans live in poverty. If 40 Americans are randomly selected, find the probability thata. Exactly 4 of them live in poverty. b. At most 1 of them live in poverty. c. At least 1 of them live in poverty. d. Between 2 and 9 (including 2 and 9) of them live in poverty.arrow_forward
- 48% of all violent felons in the prison system are repeat offenders. If 40 violent felons are randomly selected, find the probability that a. Exactly 18 of them are repeat offenders. b. At most 18 of them are repeat offenders. c. At least 18 of them are repeat offenders. d. Between 17 and 21 (including 17 and 21) of them are repeat offenders.arrow_forwardConsider an MA(6) model with θ1 = 0.5, θ2 = −25, θ3 = 0.125, θ4 = −0.0625, θ5 = 0.03125, and θ6 = −0.015625. Find a much simpler model that has nearly the same ψ-weights.arrow_forwardLet {Yt} be an AR(2) process of the special form Yt = φ2Yt − 2 + et. Use first principles to find the range of values of φ2 for which the process is stationary.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Sampling Methods and Bias with Surveys: Crash Course Statistics #10; Author: CrashCourse;https://www.youtube.com/watch?v=Rf-fIpB4D50;License: Standard YouTube License, CC-BY
Statistics: Sampling Methods; Author: Mathispower4u;https://www.youtube.com/watch?v=s6ApdTvgvOs;License: Standard YouTube License, CC-BY