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Unformatted text preview: MGT 2250  Quiz #18
2 Sides A a Answers: my?“ s/< k s 1) A simple random sample of 40 items resulted in a sample mean of 32.
Assume a population standard deviation of 8.
a) Using a 95% conﬁdence level, how large a sample should be used to
provide a margin of error of 1.5? M “xx,Q L i _ ‘ a? p ‘ [gig for“ W’ém a
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if? J b) Using a 90% conﬁdence level, how large a sampie should be used to
provide a margin of error of 1.5? \
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W , . \ a?" f "‘ ' W ‘7): ’g‘ in a i “ii"Mn. i S i x, i k g, g e c) Using a 99% conﬁdence level, how large a sample should he used to
provide a margin of error of1,5? w W k
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re 3:” j x (1) Using a 95% conﬁdence level, how large a sample should be used to
provide a margin of error of 1.0? £2,” “a, R‘s l _ W W w \ rig W 
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I} \E g i r“ or” t K e) Using a 95% conﬁdence level, how large a sample should be used to
provide a margin of error of 0.5 / [W fag} RX Wham 40?, < gifwéﬂjmgc j E} i, o a a? g
\«n / 2250Qui218P l 2) The minimum price per day to rent a car in t 6 United States has been
determined to be $40 and the maximum $95. %A sample of 50 rental prices
were determined to have a mean of $63.50. a) What is the planning value for the population standard deviation? 4/“ , , W W m
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b) Using a 95% conﬁdence level, how large a sample should be used to
provide a margin of error of $5? c) Using a 95% conﬁdence level, how large a sample should be used to provide a margin of error of $1?
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kw Now” My“ 3) A simple random sample of 1000 individuals provided 470 “Yes” responses,
:1) Using a 95% conﬁdence level, how large a sample slﬁLguld be used to We provide a margin of error of 0.03? w ' gw :39 (pea. g E '
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b) Using a 95% conﬁdence level, how large a sample should be used to RNMMMWWWM provide a margin of error of 0.02? a "i ‘2’; , r if p mg: 1 weew
“Eider I ﬁb/ Le , i W WW. WWW MadmenTmawa‘ﬂ‘ c) Assuming you didn’t know the proportion “Yes” before collecting the
sample, what is the number would you need in your sample to ensure
a margin of error of 0.03 at a conﬁdence level of 95%? (ﬁﬂﬁaoadw/Miw “:4 “WWW .
e 5:? [i ’ \x 2250Qui218P 5 Km. ...
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This note was uploaded on 02/05/2012 for the course MGT 2250 taught by Professor Milne during the Summer '08 term at Georgia Tech.
 Summer '08
 Milne

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