The universal credit product development team

Assignment Help Business Management

Reference no: EM1333114

A partner company to American Intellectual Union (AIU), Universal Credit Inc., would like to examine the required sample size needed to be able to estimate the mean dollars that each card holder will spend each month. It would like to be within plus or minus $50 of the true mean with a 95% confidence level. The standard deviation is thought to be $750. How many card holders should be sampled? Your company charges a set dollar amount for each account in the sample.

After you've determined how many card holders should be sampled, Universal Credit Inc. comes back and says the cost for the analysis is greater than their budget for the project and they want you to lower the sample size. Address the Universal Credit product development team - indicate how many card holders should be sampled to meet the original requirements of the sample. Then explain the trade-offs that will occur when you decrease the sample to meet their budget.

Reference no: EM1333114

Questions Cloud

The marketplace rate of return on this stock : The marketplace rate of return on this stock is 9%. What is the amount of the last dividend paid by Weisbro and Sons.

Explain job analysis methods : Job analysis methods -explain a situation which is most appropriate to apply the job analysis method.

Capm to calculate the cost of equity capital : Wyden Brothers uses the CAPM to calculate the cost of equity capital. The company's capital structure consists of common stock, preferred stock, and debt.

Five steps involved in managerial decision making : Identify the five steps involved in managerial decision making.

The universal credit product development team : Address the Universal Credit product development team - indicate how many card holders should be sampled to meet the original requirements of the sample.

Discusse the impact that trade restrictions such as tariffs : Discusse the impact that trade restrictions such as tariffs and quota have on the price of imports.

How effective are these technologies : Check an organization that incorporates technological advances in its interview process and How effective are these technologies? What are advantages and disadvantages of these technologies?

Way in capitalistic society to address pollution : Other countries have cut pollution emission by taxing companies that do emit. Is this the best way in a capitalistic society to address pollution?

Comprise the reason for the lawsuit the outcome of the trial : In your discussion, comprise the reason for the lawsuit, the outcome of the trial and how this lawsuit affected Microsoft and consumers.

User Account

All Pages