Answer: a) Required minimum sample size= 219
b) Required minimum sample size= 271
Step-by-step explanation:
As per given , we have
Margin of error : E= 5% =0.05
Critical z-value for 90% confidence interval :
a) Prior estimate of true proportion: p=28%=0.28
Formula to find the sample size :-
Required minimum sample size= 219
b) If no estimate of true proportion is given , then we assume p= 0.5
Formula to find the sample size :-
Required minimum sample size= 271
Answer:
Step-by-step explanation:
A graph shows cost of planting puts an upper limit on planted area. The lower limit is provided by the requirement to plant at least 15 acres. The vertices of the feasible solution region are ...
(wheat acres, barley acres) = {(0, 15), (0, 16), (3, 12)}
The profit associated with these scenarios will be ...
for (0, 16): 16·350 = 5600
for (3, 12): 3·450 +12·350 = 1350 +4200 = 5550
To maximize profit, the farmer should plant 16 acres of barley.
