Use the Given Data to Find the Minimum Sample Size $0.008$

question 155

Multiple Choice

Use the given data to find the minimum sample size required to estimate the population proportion.
-Margin of error: $0.008$ ; confidence level: $99 \% ; \hat { \mathrm { p } }$ and $\hat { \mathrm { q } }$ unknown

• A) 26,024
• B) 25,901
• C) 25,894
• D) 15,900

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Definitions:

Materials Price Variance

The difference between the actual cost of materials and the standard (or expected) cost, indicating how much more or less was spent on materials than was planned.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted cost of labor at the standard rate.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on standard cost accounting.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on the predetermined rate.