A Polling Agency Wants to Determine the Size of a Random

question 23

Multiple Choice

A polling agency wants to determine the size of a random sample needed to estimate the proportion of homeowners who keep a hand gun in their home for security. The estimate should have margin of error no more than 2.5 percentage points at a 95% level of confidence. Choose the most conservative answer that is closest to your calculated number, rounding to the nearest whole person.

• A)They should poll at least 1600 people.
• B)They should poll at least 1200 people.
• C)They should poll at least 400 people.
• D)They should poll at least 1000 people.

Recognize the benefits of quick response and tailored sourcing in supply chain management.

Evaluate the effects of forecast accuracy and lead time on supply chain performance.

Understand the relationship between forecast error (standard deviation) and its impact on expected profit and understock.

Grasp the concepts of optimal order quantity and capacity considerations in single and multiple product ordering.

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Definitions:

Seasonal Fluctuations

Variations in sales, inventory levels, or business activity that regularly occur at certain times of the year due to seasons.

Corporate Bonds

Debt securities issued by corporations to fund capital improvements, expansions, or other business needs.

Idle Cash

Cash that is not currently invested or used in transactions, often earning minimal or no interest.

Cash Management

Cash management is the process of collecting, managing, and investing a company's cash flow in order to meet its operational expenses and maintain liquidity.