A Sales Representative Has 600 Accounts

question 31

Multiple Choice

A sales representative has 600 accounts.He wants to take a random sample to determine the mean amount of yearly sales for these accounts.From past research,he knows that the population standard deviation is approximately $28,000.How large a sample should he take in order to estimate the population mean within $8,000 at a 98% level of confidence?

• A)60
• B)45
• C)75
• D)30

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Definitions:

Venn Diagram

A diagram that uses circles to represent the relationships among various sets or groups of things.

Traditional View

A conventional perspective or belief that has been long established through historical or cultural practice.

Existential Import

The presupposition that a statement implies the existence of the subject it mentions.

Venn Diagram

A diagram representing mathematical or logical sets pictorially as circles or closed curves within an enclosing rectangle (the universal set), common elements of the sets being represented by intersections of the circles.