Please help solve 1o points

Mathematics

1 answer:

OLEGan [10]3 years ago

3 0

I think that would be 10/3 but i’m not sure

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Franchise Business Review stated over 50% of all food franchises earn a profit of less than $50,000 a year. In a sample of 130 c

nydimaria [60]

Answer:

We need a sample size of 564.

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of $\pi$ , and a confidence level of $1-\alpha$ , we have the following confidence interval of proportions.

$\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}$

In which

z is the zscore that has a pvalue of $1 - \frac{\alpha}{2}$ .

For this problem, we have that:

$\pi = \frac{81}{130} = 0.6231$

The margin of error is:

$M = z\sqrt{\frac{\pi(1-\pi)}{n}}$

95% confidence level

So $\alpha = 0.05$ , z is the value of Z that has a pvalue of $1 - \frac{0.05}{2} = 0.975$ , so $Z = 1.96$ .

Based upon a 95% confidence interval with a desired margin of error of .04, determine a sample size for restaurants that earn less than $50,000 last year.

We need a sample size of n

n is found when $M = 0.04$