A University Planner Is Interested in Determining the Percentage of Spring

question 92

Essay

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 .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:

Cost Of Merchandise Sold

The total cost incurred to manufacture or purchase products that were sold to customers during a period.

Perpetual Inventory Records

A method of maintaining real-time records of inventory levels, where updates are made automatically for every sale, return, and receipt of merchandise.

Purchases Discount

Purchases Discount refers to a reduction in the price paid for goods or services if payment is made within a specified period.

Yearly Savings Rate

The percentage of one's income that is saved annually, often used in personal financial planning.