The manager of Lawn and Garden Services would like to estimate the proportion of her employees' time spent performing various gardening and lawn care activities. She has made 400 random observations of a typical worker, with the following results:
How confident can the manager be that the true proportion of time spent mowing is between 0.45 and 0.55?
Definitions:
Weighted-Average Method
An inventory costing method that assigns the cost of goods available for sale based on the weighted average cost of those goods during the period.
Processing Department
A processing department is a division within a manufacturing operation where a specific type of process or series of operations is performed on products.
Cost System
A method or process used by a company to capture, measure, and allocate costs to products, services, or other cost objects.
Conversion Cost
The combined cost of direct labor and manufacturing overheads, which are necessary to transform raw materials into finished goods.
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