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 307 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?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

For a complete list of videos, visit our video library