Author Question: A sales representative has 600 accounts. He wants to take a random sample to determine the mean ... (Read 72 times)

cookcarl · **on:** Jun 24, 2018

A sales representative has 600 accounts. He wants to take a random sample to determine the mean amount of yearly sales for these accounts. From past research, he knows that the population standard deviation is approximately 28,000.

How large a sample should he take in order to estimate the population mean within 8,000 at a 98 level of confidence?A) 60
B) 45
C) 75
D) 30

Question 2

If a categorical independent variable, such as gender, contains exactly two categories, then how many dummy variable(s) will be needed to uniquely represent these categories?

A) 1
B) 2
C) 3
D) 4