A Work Sampling Method Is Used to Determine the Proportion

question 10

Multiple Choice

A work sampling method is used to determine the proportion of the time a worker is idle. The following information was gathered on a random basis.
If the manager wants a 95 percent confidence level (z = 1.96) and a degree of precision of + 0.03, how many more observations are needed?

• A) fewer than or equal to 700
• B) greater than 700 but fewer than or equal to 800
• C) greater than 800 but fewer than or equal to 900
• D) greater than 900

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Definitions:

Planning

The process of making plans for something, including setting goals, defining actions to achieve the goals, and mobilizing resources to execute the actions.

Managing

The process of directing, controlling, and administrating an organization or effort towards achieving a set goal.

Capital Budgeting

The process used by companies to evaluate and prioritize major investments and expenditures.

Capital Structure

The mix of various forms of external funds and equity that a company uses to finance its activities.