Develop a 90% confidence interval for the population
In a random sample of 500 college students, 23% say that they read or watch the news every day. Develop a 90% confidence interval for the population proportion.
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If past information shows a standard deviation of 7 months, what size sample should be taken so that at 95% confidence the margin of error will be 2 months or less?
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You and your engineering friends decide to start a small consulting firm. You secure two loans: One for $100,000 at 6.5% per year and one for $50,000 at 2.2% per quarter. What is your company's cost of capital?
If the standard deviation of the lifetimes of vacuum cleaners is estimated to be 300 hours, how large of a sample must be taken in order to be 97% confident that the margin of error will not exceed 40 hours?
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