For Each of the Following Situations Related to Determining the Average

question 38

Short Answer

For each of the following situations related to determining the average weight of a National Football League player,indicate how the appropriate sample size would change by using the letter I (increase),D (decrease),or N (no change).Assume that all other factors are held constant.
1___.The desired level of precision changes from 20 pounds to 10 pounds.
2___.The sampling risk increases from 5 percent to 10 percent.
3___.The number of football players in the population increases from 1,400 to 1,600.
4___.You initially want to estimate the weight for offensive linemen only but decide to include quarterbacks,running banks,and placekickers.
5___.Your initial sample estimate changes from 250 pounds to 230 pounds.

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Definitions:

Profit Margin

A measure of a company's profitability, typically defined as net income divided by revenue, and expressed as a percentage.

Investment Turnover

A component of the rate of return on investment, computed as the ratio of sales to invested assets.

Return on Investment

A measure used to evaluate the efficiency of an investment, calculated by dividing the profit gained on an investment by the cost of the investment.

Indirect Expense

Costs incurred that are not directly tied to the production of goods or services, such as rent, utilities, and administrative salaries.