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Alla [95]
4 years ago
11

From a survey of coworkers you find that 36​% of 200 have already received this​ year's flu vaccine. An approximate 95​% confide

nce interval is ​(0.293​, 0.427​). ​a) How would the confidence interval change if the sample size had been 1800 instead of 200​? ​b) How would the confidence interval change if the confidence level had been 90​% instead of 95​%? ​c) How would the confidence interval change if the confidence level had been 98​% instead of 95​%?
Business
1 answer:
sveta [45]4 years ago
7 0

Answer:

Part a: <em>By increasing the sample size for same confidence level, the confidence interval is reduced.</em>

Part b: <em>By reducing the confidence level for same sample size, the confidence interval is reduced.</em>

Part c: <em>By increasing the confidence level for same sample size, the confidence interval is increased.</em>

Explanation:

Part a

As from given data

  • Percentage of co-workers already received flu vaccine p=0.36,
  • n=1800

The confidence interval is given as

CI=\hat{p} \pm z_{\alpha}\sqrt{\frac{p(1-p)}{n}}

Here

  • z is given for 95% confidence level as 1.960

By substituting values in the equation

CI=\hat{p} \pm z_{\alpha}\sqrt{\frac{p(1-p)}{n}}\\CI=0.36 \pm 1.960\sqrt{\frac{0.36(1-0.36)}{1800}}\\CI=0.36 \pm 0.02217\\CI=(0.3378,0.3812)

It is evident that the confidence interval is smaller, indicating a lesser chance of error.

<em>This means that by increasing the sample size for same confidence level, the confidence interval is reduced.</em>

Part b

As from given data

  • Percentage of co-workers already received flu vaccine p=0.36,
  • n=200

The confidence interval is given as

CI=\hat{p} \pm z_{\alpha}\sqrt{\frac{p(1-p)}{n}}

Here

  • z is given for 90% confidence level as 1.645  

By substituting values in the equation

CI=\hat{p} \pm z_{\alpha}\sqrt{\frac{p(1-p)}{n}}\\CI=0.36 \pm 1.645\sqrt{\frac{0.36(1-0.36)}{200}}\\CI=0.36 \pm 0.0557\\CI=(0.3043,0.4157)

It is evident that the confidence interval is smaller, as the confidence level is reduced.

<em>This means that by reducing the confidence level for same sample size, the confidence interval is reduced.</em>

Part c

As from given data

  • Percentage of co-workers already received flu vaccine p=0.36,
  • n=200

The confidence interval is given as

CI=\hat{p} \pm z_{\alpha}\sqrt{\frac{p(1-p)}{n}}

Here

  • z is given for 98% confidence level as 2.33

By substituting values in the equation

CI=\hat{p} \pm z_{\alpha}\sqrt{\frac{p(1-p)}{n}}\\CI=0.36 \pm 2.33\sqrt{\frac{0.36(1-0.36)}{200}}\\CI=0.36 \pm 0.07899\\CI=(0.2810,0.4389)

It is evident that the confidence interval is greater, as the confidence level is increased.

<em>This means that by increasing the confidence level for same sample size, the confidence interval is increased.</em>

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Answer:

The correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

Explanation:

The formula for cost to cost method is expected or actual cost incurred to date divided by the total cost of the project or contract.

Therefore, we have:

Total cost = Cost in 2017 + Cost in 2018 + Cost in 2019 = $640,000 + $1,600,000 + $800,000 = $3,040,000

Cost in 2017 contribution to total cost = Cost in 2017 / Total cost = $640,000 / $3,040,000 = 0.21

Cost in 2018 contribution to total cost = Cost in 2018 / Total cost = $1,600,000 / $3,040,000 = 0.53

Cost in 2019 contribution to total cost = Cost in 2019 / Total cost = $800,000 / $3,040,000 = 0.26

Revenue in 2017 = Cost in 2017 contribution to total cost * Contract price = 0.21 * $4,000,000 = $840,000

Revenue in 2018 = Cost in 2018 contribution to total cost * Contract price = 0.53 * $4,000,000 = $2,120,000

Revenue in 2019 = Cost in 2019 contribution to total cost * Contract price = 0.26 * $4,000,000 = $1,040,000

Therefore, net income for each year 2017 through 2019 using the cost-to-cost method can be computed as follows:

Net income for year 2017 = Revenue in 2017 - Cost in 2017 = $840,000 - $640,000 = $200,000

Net income for year 2018 = Revenue in 2018 - Cost in 2018 = $2,120,000 - $1,600,000 = $520,000

Net income for year 2019 = Revenue in 2019 - Cost in 2019 = $1,040,000 - $800,000 = $240,000

Therefore, the correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

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Answer:

Worth of both the property will be same.

Explanation:

Data provided in the question:

Cap rate for the Property A which is a self storage capacity = 6%

Cap rate for the Property B which is an office building = 6%

NOI of both the buildings are equal

Now,

Mathematically,

Cap rate is given as = [ NOI ] ÷ [ Worth of the property ]

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Worth of the property =  [ NOI ] ÷ [ Cap rate ]

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Answer:

Instructions are listed below

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Baka Corporation applies manufacturing overhead based on direct labor-hours.

The company based its predetermined overhead rate on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours.

Actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800.

To determine the over or under application of manufacturing overhead, first, we need to calculate the predetermined manufacturing overhead rate:

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