The closest to the minimum number of consumers needed to obtain the estimate with the desired precision is (b) 271
Explanation:
When the prior estimate of population proportion is not given , then the formula to find the sample size is given by :-
where E = Margin of error.
z* = Critical z-value.
As per given , we have
E = 5%=0.05
Confidence level = 90%
The critical value of z at 90% is 1.645 (By z-table)
Put all values in the formula , we get
n=0.25(1.645/0.05)²
n=0.25(32.9)²
n=270.6025≈271
Thus, the minimum sample size needed = 271
Hence , the correct answer is 271 .
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Answer:
c. The "apparent," but not necessarily the "true," financial position of a company whose sales are seasonal can change dramatically during a given year, depending on the time of year when the financial statements are constructed.
Explanation:
Financial statements are used to show the financial activity of a business within a given period.
One of the principles of a accounting is periodicity. This requires businesses to report their financial position at regular intervals consistently, and not in an inconsistent manner. So if a business reports their finances twice a year. At year end and at mid year, it is possible that at mid year due to seasonal sales performance will be high and business is perceived to be highly profitable.
But financial report at end of year in the off-season will show low performance.
So for seasonal businesses there can be apparent view of a business during the year that can change dramatically because of time at which reports are made.
Answer:
Opportunity.
Explanation:
There was an opportunity presented when Kevin noticed that people do not want to cook at home but also they do not want to go through the hassle of going out to buy food. A need was identified and the solution was the Takeout Taxi initiative that delivers restaurant-prepared food to customers.
Costumers that did not want to cook at home and did not want to go out were now satisfied by this service.
a dozen eggs in 1980 was 84 cents.
