THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 125

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A regional CPA firm conducted an audit for a discount chain.One part of the audit involved developing an estimate for the mean dollar error in total charges that occur during the checkout process.They wish to develop a 90% confidence interval estimate for the population mean.A simple random sample of n = 20 is selected,with the following data (in dollars):

-In a recent survey of personnel directors,71% thought that they should hire new personnel over the next three months.The researcher conducting the survey reported that the 99% confidence interval for the proportion of all personnel directors planning to hire personnel over the next three months was from 0.68 to 0.74.What is the sample size taken by the researcher?

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Definitions:

Experimental Groups

Groups in scientific research that receive the intervention or treatment being tested, as opposed to a control group which does not.

Control Groups

In experimental research, groups of participants who do not receive the experimental treatment, used as a benchmark to measure the effects of the treatment.

Probability Samples

Sampling methods in research that give each member of a population a known chance of being selected, facilitating the generalization of results to the larger population.

Randomization Techniques

Statistical methods used to ensure each participant in an experiment has an equal chance of being assigned to any group, reducing bias.