An estimate of the percentage defective in a lot of pins, Ask an Expert

Statistics

An estimate of the percentage defective in a lot of pins supplied by a vendor is desired to within 1% with a 90% confidence level. The actual percentage defective is guessed to be 4%.

a. What is the minimum sample size?

b. If the actual percentage defective may be anywhere between 3% and 6%, tabulate the minimum sample size required for actual percentage defective from 3% to 6%.

c. If the cost of sampling and testing n pins is (25 + 6n) dollars, tabulate the costs for the same percentage defective range as in part (b).

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92182414

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

In a pre-election poll a candidate for district attorney

In a pre-election poll, a candidate for district attorney receives 304 of 600 votes. Assuming that the people polled represent a random sample of the voting population, test the claim that a majority of voters support th ...

Babies weighing less than 55 pounds at birth are considered

Babies weighing less than 5.5 pounds at birth are considered "low-birth-weight babies." In the United States, 7.6% of newborns are low-birth-weight babies. The following information was accumulated from samples of new bi ...

Butterfly tractors had 1850 million in sales last year cost

Butterfly Tractors had $18.50 million in sales last year. Cost of goods sold was $8.90 million, depreciation expense was $2.90 million, interest payment on outstanding debt was $1.90 million, and the firm's tax rate was ...

Show worksuppose that you have just purchased a share of

Show Work Suppose that you have just purchased a share of stock for $23. The most recent dividend was $1.5 and dividends are expected to grow at a rate of 7% indefinitely. What must your required return be on the stock?

In a survey of 3439 adults 1418 say they have started

In a survey of 3439 adults, 1418 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results.

Staples has six special drafting pencils for sale two of

Staples has six special drafting pencils for sale, two of which are defective. A student buys two of these six drafting pencils, selected at random. Let the random variable X be the number of defective pencils. Construct ...

Please help with the below questionsbased on the following

Please help with the below questions: Based on the following project assumptions, determine the NPV and the IRR for the project. Equipment invoice $300,000 Transportation and installation $ 85,000 Training $ 20,000 Proje ...

What is the sample size for studies with moe of -35 and -28

What is the sample size for studies with MOE of +/-3.5% and +/-2.8%, with a confidence level of 95%, sample statistics of 50. Suppose the category population was 7500 (less than 10,000)? Remember the FPC. What would be t ...

A project has an initial outlay of 4623 it has a single

A project has an initial outlay of $4,623. It has a single payoff at the end of year 3 of $8,869. What is the net present value (NPV) of the project if the company's cost of capital is 12.43 percent?

Assume a firm has 45 million in operating profit the firms

Assume a firm has $45 million in operating profit. The firm's tax rate is 40%. What is the tax shield of the firm's $38 million in debt that charges a 10% interest rate?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert