Drawing sample size from normal distribution

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Reference no: EM1319140

1. The mean number of travel days per year for salespeople employed by hardware distributors needs to be estimated with a 0.90 degree of confidence. For small pilot study the mean was 150 days and the standard deviation was 14 days. If the population mean is estimated within two days, how many salespeople should be sampled?

2. The proportion of junior executives leaving large manufacturing companies within three years is to be estimated within 3 percent. The 0.95 degree of confidence is to be used. A study conducted several years ago revealed that the percent of junior executives leaving within three years was 21. To update this study, the files of how many junior executives should be studied?

Reference no: EM1319140

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