What budget item does NOT necessarily include monthly expenses? A.transportation

1 answer:

6 0

Medical expenses aren't necessarily a monthly expense since many people are healthy and therefore don't require this on a monthly basis.

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preliminary sample of 100 labourers was selected from a population of 5000 labourers by simple random sampling. It was found tha

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Answer:

$n=\frac{0.4(1-0.4)}{(\frac{0.05}{1.96})^2}=368.79$

n=369

Step-by-step explanation:

1) Notation and definitions

$X=40$ number of the selected labourers opt for a new incentive scheme.

$n=100$ random sample taken

$\hat p=\frac{40}{100}=0.4$ estimated proportion of the selected labourers opt for a new incentive scheme.

$p$ true population proportion of the selected labourers opt for a new incentive scheme.

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The population proportion have the following distribution

$p \sim N(p,\sqrt{\frac{p(1-p)}{n}})$

2) Solution tot he problem

In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by $\alpha=1-0.95=0.05$ and $\alpha/2 =0.025$ . And the critical value would be given by: