Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. for this problem, carry at least four digits after

For this problem, carry at least four digits after the decimal in your calculations. Answers may...

60.1K

Verified Solution

Question

Statistics

For this problem, carry at least four digits after the decimalin your calculations. Answers may vary slightly due torounding.

The National Council of Small Businesses is interested in theproportion of small businesses that declared Chapter 11 bankruptcylast year. Since there are so many small businesses, the NationalCouncil intends to estimate the proportion from a random sample.Let p be the proportion of small businesses that declared Chapter11 bankruptcy last year.

(a) If no preliminary sample is taken to estimate p, how large asample is necessary to be 99% sure that a point estimate p̂ will bewithin a distance of 0.09 from p? (Round your answer up to thenearest whole number.)

? small businesses

(b) In a preliminary random sample of 30 small businesses, itwas found that six had declared Chapter 11 bankruptcy. How manymore small businesses should be included in the sample to be 99%sure that a point estimate p̂ will be within a distance of 0.090from p? (Round your answer up to the nearest whole number.)

? more small businesses

Answer & Explanation Solved by verified expert
4.4 Ratings (691 Votes)
SolutionGiven thata 1 05margin of error E 009At 99    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Accounting for iPhone at Apple Inc On October 21, 2008, AppleInc. announced financial results...

Physics
1.2K views

What is a 3 way switch? Why do they come in pairs? How does it work?

Advance Math
1.2K views

The following information was recorded on August 12, 2011 at 10 p.m.: Wind Speed at 75m =...

Biology
1.2K views

Buck v Bell effectively outlawed forced sterilizations in the United States False True

Calculus
1.2K views

Question 15 Let h v 137 log13 v Determine the derivative of h dh dv

Algebra
1.2K views

Find the equation of the ellipse with the center 6 3 a focus at 3...

Accounting
1.2K views

How did you calculate the assembly department and ending work in process inventory

Accounting
1.2K views

La informacin del estado de resultados de Einsworth Corporation es la siguiente: Ventas $424 000...

Accounting
1.2K views

Considering two fiscal years 2018 and 2019, the actual units sold in 2018 and 2019...

Accounting
1.2K views

Liberty Corporation has the following information as of December 31, 2020: Based on the information...

Accounting
1.2K views

Analyze and compare Costco, Walmart, and Nordstrom The general merchandise retail industry has a number...

Accounting
1.2K views

the schedule of accounts receivable by age shown below was prepared for the Lucero company...