Estimate percentage of households owned a vehicle

Assignment Help Basic Statistics
Reference no: EM13137514

Sample Size for Motor Vehicle Ownership: You have been hired by the Ford Motor Company to do market research, and you must estimate the percentage of household in which a vehicle is owned. How many households must you survey is you want to be 94% confident that your sample percentage has a margin of error of three percentage points?

a) Assume that a previous study suggested that vehicles are owned in 86% of households.
P= .86, q= .14, n= 473
Thus, there are about 473 households must be survey.
b) Assume that there is no available information that can be used to estimate the percentage of households in which a vehicle is owned.

Reference no: EM13137514

Questions Cloud

Difference in the budgets : Astro Company is a manufacturer and Luyten Company is a merchandiser. What is the difference in the budgets the two entities will prepare?
How many moles of hno3 are present : how many moles of HNO3 are present in 33.0 mL of a 4.70M solution ?
Explain would process costing system met manufacturing : The controller, however, has stated that job costing requires too much recordkeeping. Would a process costing system met the manufacturing vice president's control objectives? Explain
Approaches to crisis prevention : Discuss strategic approaches to crisis and how such approaches helps or hinders crisis action planning
Estimate percentage of households owned a vehicle : Assume that there is no available information that can be used to estimate the percentage of households in which a vehicle is owned.
Prepare journal entries to record the copier sale : prepare journal entries to record (a) the copier's sale; (B) the adjustment on December 31,2011, to recognize the warranty expense; and (c)the repairs that occur in November 2012.
What is the density of silicon in g/cm3 : when an irregularly shaped chunk of silicon weighing 8.763 g was placed in a graduated cylinder containing 25.00 mL of water, the water level in the cylinder rose to 28.76 mL. What is the density of silicon in g/cm3?
Journal articles : a very brief summary of the text, identifying the purpose and main arguments contained within the article, the identity of the author, what their background is, and, if relevant, how this influences the position that the article takes
Complete consolidated balance sheet working papers : The bonds pay interest on June 30 and December 31 and mature on December 31, 2010. Both Wren and Schrub use straightline amortization. Wren uses the equity method of accounting for its investment in Schrub. Complete the consolidated balance sheet w..

Reviews

Write a Review

Basic Statistics Questions & Answers

  Find mean monthly mortgage paid by all homeowner

Suppose that the mortgage payments of all homeowners have a normal distribution. What is the mean monthly mortgage paid by all homeowner?

  Normal distribution for sample means

Explain what property associated with the Central Limit Theorem you consider the most important contribution, enabling the use of the normal distribution for sample means.

  Following of the normal distribution

The number of passengers on the Carnival Sensation during one-week cruises in the Caribbean follows the normal distribution.

  Hypothesis testing of mean and proportion

A certain brand of Green Energy light bulbs was advertised as having an average illumination life-span of 2,500 hours. A random sample of 50 bulbs burned out with a mean life-span of 2,470 hours and a sample standard deviation of 140 hours.

  Sample is likely representative of the population

Based on data from Neilsen Media Research survey 44% of 5108 randomly selected households had their televisions sets tuned to the Superbowl on game day. Identify the sample, the population, and explain if the sample is likely to be representative ..

  Relationship between sales and the amount spent

What is the relationship between sales and the amount spent on advertising? The owner collected data for the past year by month. The data is in millions of dollars.

  Evaluate total sum of squares

Reading highway signs is not always easy, especially if your vision is imperfect. Vision in general tends to deteriorate with age. Two researchers conducted a study to determine if the distance at which a standard highway sign could be recognized ..

  Computing the value of z if area is given

Given that Z is standard normal randam variable. Compute the value of Z if area between –Z and Z is 0.754:

  What is the upper control limit

A school tracks the absences of pupils as part of a flu surveillance system. Regular reporting of absences among 25 students in grade 1 are taken, and based on these data, the long-run proportion of absences under normal conditions is estimated to..

  Ethics in professiional decsiion-mkaing

What is ethics? Ethics is basically concerned with the Moral obligations, responsibilities and social justice of the world. It invokes the idea of "how people should act".

  Calculate the contrasts w0 and w1

An educational study uses a simple pre-post design to assess the efficacy of a computer tutor for solving inequalities. Twelve pilot students participate.  Each student is given a pre-test, then participates in six sessions using the tutor, then i..

  Proportion of employees either mba or managers

21 percent of the employees in a company have managerial positions, and 31 percent of the employees in the company have MBA degrees. Also, 66 percent of the managers have MBA degrees. Using the probability formulas, find the proportion of employee..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd