ACG_6498 Chapter 5 (1).docx - Calculate Record Sample Size Inventory Table(Inventory_Review folder Q-5-1a Use the Sample-> Calculate Sample Size command

# ACG_6498 Chapter 5 (1).docx - Calculate Record Sample Size...

• Homework Help
• 4
• 100% (4) 4 out of 4 people found this document helpful

This preview shows page 1 - 2 out of 4 pages.

Calculate Record Sample Size - Inventory Table (Inventory_Review folder) Q-5-1a. Use the Sample -> Calculate Sample Size command. Indicate the required sample size on the Inventory table if the confidence level is 95%, the upper error limit is 7%, and no errors are expected. Answer: 43 Q-5-1b. What is the sample size if the confidence level in part a is decreased to 90%? Answer: 33 Q-5-1c. Most inventory populations would be much larger than the 152 records in the Inventory table in Sample Project. Change the population size to 10,000 records (use a confidence level of 95%, upper error limit of 7%, and no errors expected). Indicate the sample size relative to the sample size in part a (smaller, larger, unchanged, or cannot determine). Answer: Unchanged Select Record Sample – Inventory table (Inventory_Review folder) Q-5-2a. Use the Sample command to select a random sample of 25 inventory items (records) in the Inventory table. Use a seed number of 2674. Save the results in an output table (a new ACL table) called INV_Random_Sample1. What is the Inventory_Value_at_Cost of the largest sample item? Answer: 25,548.60 Q-5-2b. What would happen to the number of items selected if the seed number in part a had been different (smaller, larger, unchanged, cannot determine)? Answer: Unchanged Q-5-2c. What would happen to the actual items selected if the seed number in part a had been different (same, different, or cannot determine)?

#### You've reached the end of your free preview.

Want to read all 4 pages?

• Spring '14
• JayJ.Leiner

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern