The Quality Control Department Wants to Estimate the True Percentage

question 6

Multiple Choice

The Quality Control Department wants to estimate the true percentage of rework for electrical components to within ±4%, with 99% confidence. Based on similar past
Studies, the percentage of rework was found to be 12%. How many components should
They sample?

• A) 651
• B) 1000
• C) 344
• D) 438
• E) 579

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Definitions:

Nominal Exchange Rate

The rate at which one currency can be exchanged for another without adjusting for inflation, representing the current market price.

Schillings

A former unit of currency in Austria before the euro and also used in several other countries historically.

Purchasing-Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to determine exchange rates.

Dollar Appreciated

A situation where the value of the US dollar increases relative to other currencies, making foreign goods and services cheaper for Americans.