You Have Been Asked to Observe the Office Manager at Wolf

question 18

Short Answer

You have been asked to observe the office manager at Wolf Mountain Christian School to estimate the proportion of time she spends handling visitors to the school who stop by the office.Your 50 observations have revealed the following:
(a)Based on the preliminary data,calculate the proportion of time she spends handling visitors to the school who stop by the office.
(b)Calculate the sample size needed to estimate the proportion of time she spends handling visitors to the school who stop by the office.Assume a 95% confidence that the results will lie within 5% of the true value.

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Definitions:

Failed Small Businesses

Enterprises that have ceased operations due to financial, operational, or market-related challenges, often serving as learning examples for future entrepreneurs.

Closing Doors

The act of permanently ceasing operations, often in the context of businesses shutting down.

Sufficient Cash

Having enough liquid assets to cover operational expenses and financial obligations.

Target Market

A specific group of consumers identified as the recipients of a particular product or service, characterized by their unique needs and preferences.