Question
In: Accounting
Previous market research at a high street coffee shop has found that 20 percent of customers...
Previous market research at a high street coffee shop has found that 20 percent of customers buy cake with their morning coffee. You have been tasked with calculating the sample for a new survey to understand the cake consumption of morning coffee customers.
(a) What formula should be used for this calculation? Explain the formula.
(b) If the acceptable error is 5 percent and we wish to be 95 percent confident, what sample size should be collected?
(c) If the acceptable error is just 1 percent, what sample size is required?
(d) If the confidence level is relaxed to 90 percent, what are the new sample sizes for (b) and (c)?
(e) Should the data be collected using a probability or nonprobability sample? What are the advantages and disadvantages of each method?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The owner of a specialty coffee shop wants to study coffee purchasing habits of customers at...
The owner of a specialty coffee shop wants to study coffee
purchasing habits of customers at her shop. She selects
a random sample of 60 customers during a certain week. Data are
available in the worksheet labeled “Problem 2”
in the spreadsheet.
1. Construct a 90% confidence interval on the proportion of
customers who say they “definitely will”
recommend the specialty coffee shop to family and friends.
Problem 2 Data Set
Note: Y is an indicator variable, i.e., if Y=1,...
The owner of a specialty coffee shop wants to study coffee purchasing habits of customers at...
The owner of a specialty coffee shop wants to study coffee
purchasing habits of customers at her shop. She selects a random
sample of 60 customers during a certain week. Data are available in
the worksheet labeled “Problem 2” in the spreadsheet
Final_SU2020_Data_Sets.xlsx. 1. At the ? = 0.1 level of
significance, is there evidence that more than 50% of the customers
say they “definitely will” recommend the specialty coffee shop to
family and friends? 2. Construct a 90% confidence...
The owner of a specialty coffee shop wants to study coffee purchasing habits of customers at...
The owner of a specialty coffee shop wants to study coffee
purchasing habits of customers at her shop. She selects a random
sample of 60 customers during a certain week. Data are available in
the worksheet labeled “Problem 2”.
1. At the a = 0.1 level of significance, is there evidence that
more than 50% of the customers say they “definitely will” recommend
the specialty coffee shop to family and friends?
2. Construct a 90% confidence interval on the proportion...
The owner of a specialty coffee shop wants to study coffee purchasing habits of customers at...
The owner of a specialty coffee shop wants to study coffee
purchasing habits of customers at her shop. She selects a random
sample of 60 customers during a certain week, with the following
results:
• The amount spent was X = +7.25, S = +1.75.
• Thirty-one customers say they “definitely will” recommend
the specialty coffee shop to family and friends.
a. At the 0.05 level of significance, is there evidence that
the population
mean amount spent was different from...
At a certain coffee shop, all the customers buy a cup of coffee and some also...
At a certain coffee shop, all the customers buy a cup of coffee
and some also buy a doughnut. The shop owner believes that the
number of cups he sells each day is normally distributed with a
mean of 330 cups and a standard deviation of 23 cups. He also
believes that the number of doughnuts he sells each day is
independent of the coffee sales and is normally distributed with a
mean of 170 doughnuts and a standard deviation...
At a certain coffee shop, all the customers buy a cup of coffee and some also...
At a certain coffee shop, all the customers buy a cup of coffee
and some also buy a doughnut. The shop owner believes that the
number of cups he sells each day is normally distributed with a
mean of 340 cups and a standard deviation of 18 cups. He also
believes that the number of doughnuts he sells each day is
independent of the coffee sales and is normally distributed with a
mean of 180 doughnuts and a standard deviation...
3.Consider a coffee shop that has two types of customers: lawyers and doctors. The demand for...
3.Consider a coffee shop that has two types of
customers: lawyers and doctors. The demand for espresso by lawyers
is given by QL= 18 –3P, where P Is measured in dollars and Q Is
measured in ounces. The demand for espresso by doctors is given by
QD= 10 –2P. There are equal numbers of lawyers and doctors. The
marginal cost of an ounce of espresso is $2.
(a)Suppose that the coffee shop can identify which
customer is a doctor and...
4. The owner of specialty coffee shop wants to study coffee purchasing habits of customers at...
4. The owner of specialty coffee shop wants to study coffee
purchasing habits of customers at her shop. She selects a random
sample of 60 customers during certain week, with the following
results:
The amount spent was ? = $7.25, S = $1.75
Thirty-one customers say they definitely will” recommend the
specialty coffee shop to family friends.
a. At the 0.05 level of significance, is there evidence that the
population mean amount spent was different from $6.50? (IS THIS
RIGHT?)...
4. The owner of specialty coffee shop wants to study coffee purchasing habits of customers at...
4. The owner of specialty coffee shop wants to study coffee
purchasing habits of customers at her shop. She selects a random
sample of 60 customers during certain week, with the following
results:
The amount spent was ? = $7.25, S = $1.75
Thirty-one customers say they definitely will” recommend the
specialty coffee shop to family friends.
a. At the 0.05 level of significance, is there evidence that the
population mean amount spent was different from $6.50?
b. Determine the...
Question 16 The customers at Peete's coffee shop want to grab a quick cup of coffee...
Question 16
The customers at Peete's coffee shop want to grab a quick cup of
coffee before boarding the Metra train into Chicago. The sign in
the window promises "Quick, In-and-Out Service," and usually
Peete's Coffee Shop keeps that promise. But one morning, customers
were frustrated when the staff behind the counter showed more
interest in gossiping about their social lives than in waiting on
customers. Peete's coffee shop is suffering from a ________
gap.
knowledge
social expectations...
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