When making college visits, you may be able to...

You are the operations manager for an airline and you are considering a higher fare level for passengers in aisle seats. how man

hram777 [196]

Recall that margin of error is given by:

$M=z_{\alpha/2}\sqrt{ \frac{p(1-p)}{n}} \\ \\ \Rightarrow\frac{M^2}{\left(z_{\alpha/2}\right)^2}= \frac{p(1-p)}{n} \\ \\ \Rightarrow n= \frac{\left(z_{\alpha/2}\right)^2p(1-p)}{M^2}$

Given that you want to be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage.

This means that $z_{\alpha/2}=1.96$ and M = 2.5% = 0.025.

Part A:

When nothing is known about the percentage of persengers who prefer aisle seat, we make use of p = 50% = 0.5.

Thus,

$n=\frac{1.96^2\times0.5\times0.5}{(0.025)^2}= \frac{0.9604}{0.000625} =1,537$

Therefore, 1,537 randomly selected air passengers must be surveyed to be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage.

Part B:

Given that recent surveys surgest that about 38% of all air passengers prefer an aisle seat, thus p = 38% = 0.38

Thus,

$n=\frac{1.96^2\times0.38\times0.62}{(0.025)^2}= \frac{0.9051}{0.000625} =1,449$

Therefore, 1,449 randomly selected air passengers must be surveyed to be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage.

6 0

3 years ago

A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing the

Ivanshal [37]

Answer:

Income statement

Explanation:

3 0

3 years ago

An appraiser has just completed a search of the records for comparable residential properties that have sold within the last six

BigorU [14]

I believe the Appraier is using: Direct Sales Comparison Approach (mostly used with residential properties.
Direct sales comparison approach is an appraisal method that being done by comparing the sales that happen between similar properties/products to determine the value of that properties/productss

8 0

4 years ago

Dave's firm had grown steadily and the products and systems had become more and more complicated. He had been a star representat

Katen [24]

Answer:

Sales team

Explanation:

Looking at the growth that team team experienced , David and his sales colleague are forced to constantly change approach due to sales growth and increasing product complexity.

Now , if the primary duties of the customer relationship officer are order getting , order taking or sales support which are all the core functions of sales team , it is apparent that the changes and growth has also forced the sales team to be take over the function of customer relationship.

7 0

3 years ago

What are the non-strategic (operational) decisions in the business? For example, what non-strategic decisions Coca-Cola company

Rainbow [258]

What distinguishes an outsourcing arrangement from any other business arrangement is the transfer of ownership of an organization’s business activities (processes or functions)-or the responsibility for the business outcomes flowing from these activities-to a service provider. In a typical outsourcing arrangement, the people, the facilities, the equipment and the technology (the Factors of Production) are also transferred to the service provider, which then uses the Factors of Production to provide the services back to the organization. The people are often transferred to the service provider, but this is not always the case.

An outsourcing arrangement can be either “tactical” or “strategic.” An outsourcing is tactical when it is driven by a desire to solve a practical problem. For example, a company may find that its payroll clerk is not able to process payroll changes, cheques, tax returns and make the required accounting entries on time. The company concludes that although the payroll clerk is competent, there is too much work for a single person. The company outsources the payroll process (including the clerk), and ends up with all of the payroll work done on time and at a lower cost. As a result, it achieves a net gain in operational efficiency. Similarly, if an organization outsources its IT infrastructure so it can save five to 10 per cent on the cost of operating that function, the outsourcing is purely tactical.

“Strategic” outsourcing, on the other hand, is not driven by a problem-solving mentality. Instead, it is structured so that it is aligned with the company’s long-term strategies. The changes that organizations expect from strategic outsourcing vary and can include anything from

7 0

3 years ago