Essay
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The faculty advisor for the finance society at a local business school is interested in determining the proportion of finance students going on a field trip.The advisor samples some students from each class and computes the sample proportion for each class.
-The alumni association for MBA students at a local university has 1,532 active members.Suppose you are interested in determining the average number of hours alumni spend in volunteer work each month.You know from past experience that the population standard deviation is approximately 7.2 hours.How large a sample would you need to ensure that the sample mean is within 3 hours with a 95% confidence level?
Correct Answer:
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1.96σ 
= 3 ⇒ σ
= ...View Answer
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Correct Answer:
Verified
= 3 ⇒ σ
= ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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