- Karen Wants To Advertise How Many Chocolate Chips Are In Each Big Chip Cookie At Her Bakery She Randomly Selects A Samp 1 (220.09 KiB) Viewed 31 times
Nancy is a waitress at Seventh Heaven Hamburgers. She wants to estimate the average amount each table leaves for a tip. A random sample of 5 groups was taken and the amount they left for a tip (in dollars) is listed below: $12.00 $8.00 $6.00 $4.00 $5.00 a.) Find a 90% confidence interval for the average amount left by all groups. (*round to the nearest cent*) $ <μ< $ b.) If the sample size were larger, with everything else remaining the same, would the margin of Error Increase or Decrease? Decrease Increase C.) If the Confidence level were 95% instead of 90%, would the range (size) of the Confidence Interval be Larger or Smaller? Larger OSmaller
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.035 margin of error at a 98% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. n = households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.18 . Using this new information. what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. n = households