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strojnjashka [21]
3 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]3 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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3 years ago
Income rises from $3,500 to $4,000 a month and the quantity demanded of good X falls from 7 to 5 units a month. Income elasticit
finlep [7]

Answer:

E) -2.50 ; inferior

Explanation:

Before you earned $3,500 per month, you consumed 7 units per month. That means that you consumed 1 unit every $500 earned.

When your income increased to $4,000, you only consumed 5 units per month. That means that your consumption decreased to 1 unit for every $800.

The income elasticity of demand using the midpoint method is calculated by using the following formula:

income elasticity = {change in quantity demanded / [(old quantity + new quantity) / 2]} /  {change in income / [(old income + new income) / 2]}  

= {-2 / [(7 + 5) / 2]} /  {500 / [(3,500 + 4,000) / 2]} = (-2 / 6) / (500 / 3,750) = -0.333 / 0.133 = -2.5

Since the income elasticity of demand is negative, the good X is an inferior good.

7 0
3 years ago
Assume a country's nominal GDP is $600 billion, government expenditures less debt service are $145 billion, and revenue is $160
kogti [31]

Answer:

a). Debt service payments=$21.6 billion

b). The nominal deficit=$6.6 billion

c). The government has a real budget surplus of $4.2 billion

Explanation:

a). Determine the debt service payments

The debt service payments can be expressed as;

Debt service payments=Nominal debt×interest rate

where;

nominal debt=$360 billion

interest rate=6%=6/100=0.06

replacing;

Debt service payments=360×0.06=$21.6 billion

Debt service payments=$21.6 billion

b). Determine the nominal deficit or surplus

The nominal deficit can be expressed as;

nominal deficit/surplus=Revenue-(Interest on debt+Government expenditures)

where;

Government expenditures=$145 billion

interest on debt=21.6 billion

revenues=$160 billion

replacing;

nominal deficit/surplus=160-(145+21.6)=160-166.6=-$6.6 billion

The nominal deficit=$6.6 billion

c). Determine the real deficit or surplus

The real deficit/surplus can be expressed as;

real deficit=(inflation×total nominal debt)-nominal deficit

where;

nominal deficit=$6.6 billion

inflation=3%=3/100=0.03

total nominal debt=$360 billion

replacing;

real deficit/surplus=(0.03×360)-6.6=10.8-6.6=$4.2 billion

The government has a real budget surplus of $4.2 billion

3 0
3 years ago
The Brite Beverage Company bottles soft drinks into aluminum cans. The manufacturing process consists of three activities:
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Answer:

A. $0.1 per can

B. $3,315

C. 0.098 per packaged can

Explanation:

a) Calculation to Determine the total activity cost per packaged can under present operations.

Using this formula

Total activity cost per packaged = Total activity cost under present operations ÷ total cans packaged

Let plug in the formula

Total activity cost per packaged= $650,000 ÷ 6,500,000

Total activity cost per packaged= $0.1 per can

Therefore the total activity cost per packaged can under present operations is $0.1 per can

b) Calculation to Determine the amount of increased packaging activity costs from the expected improvements.

First step is to calculate the Packaging cost per bottle =

Using this formula

Packaging cost per bottle = Current packaging cost ÷ total cans packaged

Let plug in the formula

Packaging cost per bottle = 110,500 ÷ 6,500,000

Packaging cost per bottle = $0.017 per bottle

Second step is to calculate the Total packaging cost

Using this formula

Total packaging cost = Total bottle × cost per bottle

Let plug in the formula

Total packaging cost= 6,695,000 × $0.017

Total packaging cost= $113,815

Now let determine the amount of increased packaging activity costs from the expected improvements.

Using this formula

Amount of increased packaging activity costs = total packaging cost - current packaging cost

Let plug in the formula

Amount of increased packaging activity costs= $113,815 - 110,500

Amount of increased packaging activity costs= $3,315

Therefore the amount of increased packaging activity costs from the expected improvements is $3,315

c) Calculation to Determine the expected total activity cost per packaged can after improvements

First step is to calculate Total activity cost using this formula

Total activity cost = Mixing cost + filling cost + packaging cost

Let plug in the formula

Total activity cost == $286,000 + $253,500 + $113,815

Total activity cost == $653,315

Now let determine the Expected total activity cost per packaged can

Using this formula

Expected total activity cost per packaged can = Total activity cost ÷ no. of bottles

Let plug in the formula

Expected total activity cost per packaged can= $653,315 ÷ 6,695,000

Expected total activity cost per packaged can=0.098 per packaged can

Therefore the expected total activity cost per packaged can after improvements is 0.098 per packaged can

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