Question

In: Statistics and Probability

The Ministry of Trade and Commerce of Business for British Columbia would like to estimate the...

The Ministry of Trade and Commerce of Business for British Columbia would like to estimate the average hourly wage for union workers in Vancouver, with a 90% confidence level and a margin of error within plus or minus $2.00. Assuming the standard deviation for union wage rates is $8.50, determine the required sample size. (2 points)

Solutions

Expert Solution

Solution :

Given that,

Population standard deviation = = $8.50

Margin of error = E = $2.00

Z/2 = 1.645

sample size = n = [Z/2* / E] 2

n = [1.645 * 8.50/ 2]2

n = 49

The required sample size (n) is 49

orchestra answered 1 year ago
Next > < Previous

Related Solutions

The Chamber of Commerce of Tampa Bay, Florida, would like to estimate the average amount of...
The Chamber of Commerce of Tampa Bay, Florida, would like to estimate the average amount of money spent by a visitor in Florida with 95% confidence. Assume that the underlying distribution is normal and the standard deviation is $200. What sample size would be necessary for the Chamber of Commerce to meet its objective in estimating this average amount if population mean is within $20 of the sample mean?
The local Chamber of Commerce would like to estimate the average hourly wage for union workers...
The local Chamber of Commerce would like to estimate the average hourly wage for union workers in Bucks County, Pennsylvania, with a 90% confidence level and a margin of error within plus or minus $2.00. Assuming the standard deviation for union wage rates is $8.50, determine the required sample size.
What would be Columbia Sportswear's Business model?
What would be Columbia Sportswear's Business model?
[6] Sixty percent of the student body at the University of British Columbia is from British...
[6] Sixty percent of the student body at the University of British Columbia is from British Columbia, 30% percent are from other Canadian provinces and territories, and the remainder are international students. Twenty percent of students from British Columbia live in the dormitories, whereas 50% of students from other Canadian provinces and territories live in the dormitories. Finally, 80% of the international students live in the dormitories. What percentage of University of British Columbia students live in the dormitories? Given...
The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business...
The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business Plans from all ‘Year 2020’ Ghanaian graduates of tertiary institutions across the country to access a seed money for setting businesses through Stimulus Package known as the COVID FUND. It is important to note that the Fund Managers require applicants to show proof of how feasible their plans would be. This implies that you are expected to explicitly show how and when the venture...
The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business...
The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business Plans from all ‘Year 2020’ Ghanaian graduates of tertiary institutions across the country to access a seed money for setting businesses through Stimulus Package known as the COVID FUND. It is important to note that the Fund Managers require applicants to show proof of how feasible their plans would be. This implies that you are expected to explicitly show how and when the venture...
The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business...
The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business Plans from all ‘Year 2020’ Ghanaian graduates of tertiary institutions across the country to access a seed money for setting businesses through Stimulus Package known as the COVID FUND. It is important to note that the Fund Managers require applicants to show proof of how feasible their plans would be. This implies that you are expected to explicitly show how and when the venture...
The government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business...
The government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business Plans from all “Year 2020” Ghanaian graduates of tertiary institutions across the country to access a seed money for setting business through Stimulus Package known as the COVID FUND. It is important to note that the Fund Managers require applicants to show proof of how feasible their plans would be. This implies that you are expected to explicitly show how and when the venture...
1-800-Got Junk? is a junk removal franchise business headquartered in Vancouver, British Columbia, Canada. In late...
1-800-Got Junk? is a junk removal franchise business headquartered in Vancouver, British Columbia, Canada. In late 2003, Got Junk entered a franchise agreement with Millenium Asset Recovery Inc. The agreement stated that the franchisee, Millennium, would pay a percentage of its gross revenue to Got Junk on every junk removal job it performs. In 2007, Got Junk terminated Millennium’s franchise on the grounds that Millennium deliberately had not reported certain jobs and the gross revenue derived from such jobs. Was...
1.    You would like to estimate the starting salaries of recently graduated business majors (B.S....
1.    You would like to estimate the starting salaries of recently graduated business majors (B.S. in any business degree). You randomly select 60 recently graduated business majors and get a sample mean of $43,800 and the population standard deviation is known to be $8,198 A.    Construct a 90% confidence interval to estimate the average starting salary of a recently graduated business major (Round to the nearest penny and state the answer as an interval – for example $351.89...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT