One Method for Estimating the Availability of Office Space in Large

question 17

Essay

One method for estimating the availability of office space in large cities is to conduct a random sample of offices, and calculate the proportion of offices currently being used. Suppose that real estate agents believe that π = 0.70 of all offices are currently occupied, and decide to take a sample to assess their belief. They are considering a sample size of n = 40.
a) Show that this sample size is large enough to justify using the normal approximation to the sampling distribution of p.
b) What is the mean of the sampling distribution of p if the real estate agents are correct? c) What is the standard deviation of the sampling distribution of p if the real estate agents are correct?
d) If the real estate agents are correct, what is the probability that a sample proportion, p, would differ from π = 0.70 by as much as 0.05?

Identify and understand sampling techniques, including representative and random sampling, and their significance in research.

Distinguish between experimental and correlational research methodologies and their applications.

Recognize the implications of confounding variables and the limitations of correlational research.

Interpret the roles of independent and dependent variables in experimental research.

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Definitions:

Audience-Focused

A strategy or approach that centers primarily on the interests, needs, or preferences of a target audience.

Brand-Focused

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Content Marketing Matrix

A framework used to visualize and plan the role of content in marketing strategies, considering various dimensions like content type and purpose.

Emotional or Rational

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