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Confidence interval for single proportion.

1. The independent Department Store wants to determine the proportion of their charge accounts having unpaid balance of $500.00 or more. A sample of 250 accounts revealed that 100 of them had unpaid balance of $500 or over. What is the 99 percent confidence interval for the population proportion?

2. The manager of the A & B Supermarket wants to estimate the mean time a customer spends in the store. A 95 percent confidence level must be used. The standard deviation of population based on a pilot survey is estimated to be 3.0 minutes. The manager requires the estimate to be within 1.0 minutes of the population value. What sample size is needed?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M919940

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