A Retailer Wants to Estimate with 99% Confidence the Number

question 98

True/False

A retailer wants to estimate with 99% confidence the number of people who shop at his
store. A previous study showed that 24% of those interviewed had shopped at his store.
He wishes to be accurate within 3% of the true proportion. The minimum sample size
necessary would be 1,100.

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Definitions:

Deposit

A sum of money placed into an account or given as security for a financial agreement.

Cash Balance

The amount of cash a company or an individual has on hand at any given time, reflecting the liquidity and ability to meet immediate obligations.

Deposits

Deposits involve the placing of funds into a bank account or towards a particular service, ensuring the availability of the funds when needed.

Stephen Clark Wholesale

A specific business name, presumably engaged in the wholesale distribution of goods.