A Car Dealership Wants to Estimate the Percentage of Customers

question 82

Short Answer

A car dealership wants to estimate the percentage of customers that are satisfied with their customer service.Given that the car dealership has no prior knowledge of the proportion,how many customers would it have to sample to ensure a margin of error of no more than 5 percent for a 99% confidence interval?

Understand the relationship between the elasticity of supply and demand and tax incidence.

Calculate and analyze deadweight loss resulting from taxes and how it affects overall market efficiency.

Understand the effects of subsidies and how they affect supply and demand equilibrium.

Analyze the impact of quantity taxes on market behavior and equilibrium.

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Definitions:

Performance Management System (PMS)

A framework used by organizations to monitor, evaluate, and enhance the performance of employees through set objectives and feedback.

Competitive Advantage

The unique attributes or capabilities that enable an organization to outperform its competitors.

Positive Publicity

Favorable attention directed towards an organization or individual from the media or public, enhancing reputation.

Comprehensive Control

A broad and all-encompassing method of monitoring and managing an organization's operations, ensuring alignment with strategic goals.