A University Planner Is Interested in Determining the Percentage of Spring

question 136

Short Answer

A university planner is interested in determining the percentage of spring semester students who will attend summer school. She takes a pilot sample of 160 spring semester students discovering that 56 will return to summer school.
a.Construct a 95% confidence interval estimate for the percentage of spring semester students who will return to summer school.
b.Using the results of the pilot study with a 0.95 probability, how large of a sample would have to be taken to provide a margin of error of 3% or less?

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the account balance but have not yet been cashed or cleared by the bank.

Outstanding Deposit

Funds that have been received but not yet processed by a financial institution.

Bank Statement Balance

The total amount of money that is available in a bank account at a particular point in time, as recorded by the bank.

Checkbook Balance

The current total amount of funds available in a checking account, reflecting all transactions that have been recorded in the checkbook ledger.