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A work sampling study is needed that will estimate the percentage of time a postal clerk spends selling stamps as opposed to other duties. Determine the necessary sample size to estimate that proportion with a confidence of 99.74 percent to within 3 percent, for these cases:
(1) No information is currently available concerning that proportion.
(2) The proportion is probably no more than 15 percent.
Percent Decrease
A measure of how much a quantity has decreased in percentage terms compared to its previous value.
Percent Increase
The process of determining the ratio of the increase in a quantity to the original amount, expressed as a percentage.
Stock Value
The price of a single share of a company's stock, representing ownership in the company and its potential profitability.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan remaining.
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