This topic contains a solution. Click here to go to the answer

Author Question: A large bank in a metropolitan area has a large number of secured loans on apartment facilities ... (Read 162 times)

pepyto

  • Hero Member
  • *****
  • Posts: 547
A large bank in a metropolitan area has a large number of secured loans on apartment facilities throughout the area. Local economic indicators suggest the percentage of vacant apartments ranges from 7 to 10. Concerned about the borrowers' ability to meet loan obligations on time the bank decides to sample from the apartments used to secure loans. The officer responsible for the sample decides to allow a maximum error of the estimate of 0.01 with 99 percent confidence. The officer wishes to take a sample large enough to cover all proportions within the estimated vacancy range. Compute the sample size needed for this study.

Question 2

A cost accountant wished to establish the average amount,  , spent by executives per day on travel and lodging. Then a comparison, between the average and the amount turned in to be reimbursed, will be made and unreasonably high or low expense amounts audited. A random sample of 50 executive expense receipts is taken. The average in the sample was 208 . From a similar survey the standard deviation of the amounts is approximately  = 29 . The accountant prepares a 90-percent confidence level for . What is its maximum error?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Qarqy

  • Sr. Member
  • ****
  • Posts: 313
Answer to Question 1

5973

Answer to Question 2

6.75





 

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

For a complete list of videos, visit our video library