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 basic functions and features of Outlook.

Identify and use Outlook's options for customizing email experience.

Know how to create, modify, and delete rules in Outlook.

Understand email formatting options in Outlook.

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Definitions:

Actual Direct Labor Rate

The actual amount paid per hour to workers who are directly involved in the production of goods or services.

Labor Rate Variance

The difference between the actual cost of direct labor and the standard cost, indicating how well the company is managing its labor costs.

Direct Labor Standards

The expected amount of time and wage rate for workers to complete a unit of production.

Labor Efficiency Variance

A measure of the difference between the actual hours worked and the standard hours expected to produce a certain level of output.