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The Bureau of Labor Statistics is planning the next yearly survey to determine the average cost of a summer vacation for a US family.
The following standards have been set: a confidence level of 95% and an error of less than $100. Past research has indicated that the standard deviation should be $656.
What is the required sample size?
What would happen to your results if you use a sample smaller than the required sample size?
What would be the required sample size if the BLS standards specify a 99% confidence level instead?
(You can either do the calculations on your own, or use the "Calculating required sample size" Excel template).
A time standard was set at 0.20 hour per unit based on the 50th unit produced. If the task has a 90% learning curve Illustrate what would be the expected time of the 100th, 200th also 400th unit.
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Your boss recently told you that you needed to be more "culturally intelligent." Specifically he said, "I received some feedback from a major client, Palo, who said after a meeting him that you seemed not be very interested in his business anymore."
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