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strojnjashka [21]
2 years ago
9

A researcher wanted to determine the mean number of hours per week (Sunday through Saturday) the typical person watches televisi

on. Results from the Sullivan Statistics Survey I indicate that s = 7.5 hours.
(a) How many people are needed to estimate the number of hours people watch television per week within 2 hours with 95% confidence?


(b) How many people are needed to estimate the number of hours people watch television per week within 1 hour with 95% confidence?


(c) What effects does doubling the required accuracy have on the sample size?


(d) How many people are needed to estimate the number of hours people watch television per week within 2 hours with 90% confidence? Compare this result to part (a). How does decreasing the level of confidence in the estimate affect sample size? Why is this reasonable?
Business
1 answer:
GarryVolchara [31]2 years ago
4 0

Answer:

A.) 54 subjects

B.) 216 subjects

C.) doubling the accuracy results in 4 times the sample size

D.) 38 subjects

Decreasing confidence level decreases sample size. For fixed error margin, the lower the confidence level, the lower the sample size

Explanation:

Standard deviation (s) = 7.5 hours

A.)

Error margin 'E' = 2

Confidence level = 0.95

α = 1 - 0.95 = 0.05, α/2 = 0.025

Z - value at α/2 = 0.025 = 1.96

Sample size = [(1.96 × 7.5)/2]^2

Sample size = 7.35^2 = 54.022

54 subjects

B.) E = 1

Sample size = [(1.96 × 7.5)/1]^2

Sample size = 14.7^2 = 216.09

216 subjects

C.) from the above, doubling the accuracy results in 4 times the sample size.

D.) Using a confidence interval of 90%

Error margin 'E' = 2

Confidence level = 0.90

α = 1 - 0.90 = 0.1, α/2 = 0.05

Z - value at α/2 = 0.05 = 1.645

Sample size = [(1.645 × 7.5)/2]^2

Sample size = 6.16875^2 = 38.05

=38 subjects

Decreasing confidence level decreases sample size. For fixed error margin, the lower the confidence level, the lower the sample size

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Answer:

False

Explanation:

The payback period refers to the specific period of time that it is required to recover the amount invested and it is an important factor to take into account but the project with the shortest payback period is not necessarily the most desirable investment because other factors are also considered, for example, the expected profit and the conditions in the environment that may affect the assumptions made. Because of that, the answer is that the statement is false.

3 0
3 years ago
What are some common spreadsheets applications?​
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7 0
3 years ago
You own a bond that pays $64 in interest annually. The face value is $1,000 and the current market price is $1,062.50. The bond
drek231 [11]

Answer:

the yield to maturity of this bond is 5.7%

Explanation:

given data

pays interest annually C =  $64

face value F = $1,000

current market price P = $1,062.50

bond matures n = 30 years

solution

we get here yield to maturity that is express as

yield to maturity =

yield to maturity = [C+ (F-P) ÷ n] ÷ [(F+P) ÷ 2   ]     .................1

put here value and we get

yield to maturity = \frac{64+(1000-1062.50)}{11}  ÷ \frac{(1,000+1,062.50)}{2}

yield to maturity = 0.057

so that the yield to maturity of this bond is 5.7%

6 0
2 years ago
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $703,938 and Allo
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The net realizable value of accounts receivable is $684,204

Explanation:

  • To calculate subtract the doubtful-accounts allowance from the total accounts receivable. The result will be the net realizable value of accounts receivable.
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  • doubtful-accounts = $19,734.
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7 0
2 years ago
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Answer:

$400

Explanation:

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Using this formula

Minimum acceptable price=Direct materials+ Direct labor+ Manufacturing support +Marketing costs

Let plug in the formula

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Therefore the minimum acceptable price of this special order is $400

7 0
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