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...

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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)?
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  • Spring '14
  • JayJ.Leiner

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