(Solution Library) The internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts
Question: The internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that are current (between 0 and 60 days after billing). The historical records show that over the past 8 years 70 percent of the accounts have been current. Determine the sample size needed in order to be 99% confident that the sample proportion of the current customer accounts is within .03 of the true proportion of all current accounts for this company.
- 1842
- 1548
- 897
- 632
- 1267
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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document
Deliverable: Word Document
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(Steps Shown) In a manufacturing process, we are interested in
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(See) In a manufacturing process, we are interested in measuring
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[Solution] In the construction of a confidence interval, as the
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Solution: When the population is normally distributed and the
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[Steps Shown] As the sample size n increases, the width of the
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![[Solution] In the construction of a confidence](/images/solutions/MC-solution-library-68876.jpg "[Solution] In the construction of a confidence interval, as the")
![[Steps Shown] As the sample size n](/images/solutions/MC-solution-library-68878.jpg "[Steps Shown] As the sample size n increases, the width of the")
