An Electronics Retailer Is Interested in Studying the Incomes of Consumers

question 66

Essay

An electronics retailer is interested in studying the incomes of consumers in a particular area.The population standard deviation is known to be $1,000.What sample size would the researcher need to use for a 95% confidence interval if the difference between UCL and LCL should not be more than $100?

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Definitions:

Set of Promises

A collection or aggregation of commitments or assurances made by one party to another within the context of a contract or agreement.

Legal Objective

A principle that requires contracts to have a purpose that is lawful and not against public policy in order to be enforceable.

Breach

The violation or breaking of a law, duty, or contractual obligation either by commission or omission.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increased interconnectedness of the world's economies, cultures, and populations.