How Many Observations Should Be Taken to Be 95% Confident

question 13

Multiple Choice

How many observations should be taken to be 95% confident of being within +5% of the actual time a machine is busy if it is believed that the machine is in use 75% of the time?

• A)1,200 observations
• B)772 observations
• C)364 observations
• D)289 observations

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Definitions:

Individual Debtor

A person who owes money to creditors; in legal contexts, often pertaining to bankruptcy procedures.

Bankruptcy Code

The set of laws that governs bankruptcy proceedings in the United States, providing a legal framework for insolvency and debt resolution.

Meetings of Creditors

Gatherings organized for creditors to discuss and decide upon matters related to a debtor's bankruptcy or financial restructuring.

Administrative Powers

encompass the authority and functions of governmental agencies and bodies to implement laws, issue regulations, and conduct affairs.