If the Population Standard Deviation of the Lifetime of Washing

question 75

Short Answer

If the population standard deviation of the lifetime of washing machines is estimated to be 1000 hours, how large a sample must be taken in order to be 95% confident that the margin of error will not exceed 100 hours?

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Definitions:

MBCA

Model Business Corporation Act, a set of model laws to standardize legislation governing corporations in the U.S.

Mandatory Indemnification

A legal requirement for a party to compensate for loss or damage incurred by another, often found in corporate bylaws and insurance policies.

Directors

Individuals elected by shareholders to oversee the management and make major decisions for a corporation.

Severe Liability

refers to a legal situation where an individual or entity is held heavily responsible for damages or violations, often in cases of gross negligence or intentional misconduct.