Suppose That an Internal Report Submitted to the Managers at a Bank

question 19

Multiple Choice

Suppose that an internal report submitted to the managers at a bank in Boston showed that with 95 percent confidence, the proportion of the bank's customers who also have accounts at one or more other banks is between .45 and .51. Given this information, what sample size was used to arrive at this estimate?

• A) About 344
• B) Approximately 1,066
• C) Just under 700
• D) Can't be determined without more information.

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Definitions:

Management Team

A group of individuals who oversee various aspects of a business’s operations and strategy, guiding the company towards its objectives.

Interruptions

Unexpected or unplanned for events or disturbances that impede or halt progress, especially in sales or productivity contexts.

Demonstration

A visual or practical presentation showing how a product or service works or its benefits.

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1.