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Questions asked by the same visitor
A financial institution wishes to estimate the mean balances owed by its credit card customers. The population standard deviation is estimated to be $300. If a 98 percent confidence interval is used and an interval of ±$75 is desired, how many cardholders should be sampled? A. 629 B. 62 C. 87 D. 3382
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Not Answered
Updated 5/19/2013 2:23:14 PM
1 Answer/Comment
87 cardholders should be sampled.


Solution:
invNorm(0.01) = 2.326
n = [2.326*300/75]^2
- -
n = 9.304^2

- -
n = 86.56
Rounding up:
n = 87 (desired sample size)

Added 5/19/2013 2:23:14 PM
__________ is the process of working with people and resources to accomplish organizational goals. A. Management B. Planning C. Supervising D. Decision making E. Controlling
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Expert Answered
Updated 3/20/2016 7:53:18 PM
1 Answer/Comment
Management is the process of working with people and resources to accomplish organizational goals.
Added 3/20/2016 4:43:57 PM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by Andrew. [3/20/2016 7:53:09 PM]
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