TABLE 8-2 The Managers of a Company Are Worried About the Morale

question 102

Short Answer

TABLE 8-2
The managers of a company are worried about the morale of their employees. In order to determine if a problem in this area exists, they decide to evaluate the attitudes of their employees with a standardized test. They select the Fortunato test of job satisfaction, which has a known standard deviation of 24 points.
-Referring to Table 8-2, they should sample____ employees if they want to estimate the mean score of the employees within 5 points with 90% confidence.

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Definitions:

Public Goods

Goods that are neither excludable nor rival in consumption, meaning anyone can use them, and one person's use does not diminish the ability of another to use it also.

Optimal Level

The most efficient, effective, or desirable point or state for a specific circumstance or variable.

Willingness to Pay

Willingness to pay represents the maximum amount an individual is prepared to spend to acquire a good or service.

Marginal Cost

The boost in total charges linked to the creation of one more unit of a product or service.