The Mean Number of Travel Days Per Year for Salespeople

question 6

Multiple Choice

The mean number of travel days per year for salespeople employed by three hardware distributors needs to be estimated with a 0.90 degree of confidence. For a small pilot study,the mean was 150 days and the standard deviation was 14 days. If the population mean is estimated within two days,how many salespeople should be sampled?

• A)133
• B)452
• C)511
• D)2,100

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Definitions:

Financial Planning Model

A systematic tool or process used by businesses to forecast their financial performance and plan future financial activities.

Pro Forma Statements

Financial statements that project the future financial performance of a company, often used in planning and capital raising.

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These are financial statements that combine the financial data of several segments, subsidiaries, or different time periods of an organization into a single, comprehensive financial statement.