You Want to Estimate the Proportion of Customers Who Are $\alpha$

question 138

Multiple Choice

You want to estimate the proportion of customers who are satisfied with their supermarket at $\alpha$ = .10 and within .025 of the true value.It has been estimated that p = .85.How large of a sample is needed?

• A)1083
• B)553
• C)71
• D)336

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Definitions:

Sales Required

The minimum sales needed to achieve a specific financial goal or to cover costs.

Variable Cost

Costs that vary directly with the level of production or output.

Break-even Point

The level of production or sales at which total revenues equals total expenses, with no net loss or gain.

Contribution Margins

The amount remaining from sales revenue after all variable expenses have been deducted, indicating how much contributes to covering fixed costs and generating profit.