Question

A study conducted several years ago reported that 24 percent of university graduates applied for an...

A study conducted several years ago reported that 24 percent of university graduates applied for an MBA degree within 2 years of graduation . The Council of Higher Education would like to update the study. They would like to estimate the population proportion of university graduates who applied for an MBA degree within 2 years of graduation with a margin of error of 2% and a 99% level of confidence. (Round your z value to 3 decimals. Round up your answers to the next whole number.)

To update this study, the files of how many graduates should be studied?(sample size)

Homework Answers

Answer #1

Solution,

Given that,

= 24% = 0.24

1 - = 1 - 0.24 = 0.76

Margin of error = E = 2% = 0.02

At 99% confidence level

= 1 - 99%  

= 1 - 0.99 =0.01

/2 = 0.005

Z/2  = Z0.005  = 2.576

Sample size = n = (Z / 2 / E )2 * * (1 - )

= ( 2.576 / 0.02 )2 * 0.24 * 0.76

= 3025.91

Sample size = n = 3026

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The proportion of public accountants who have changed companies within the last three years is to...
The proportion of public accountants who have changed companies within the last three years is to be estimated within 4%. The 95% level of confidence is to be used. A study conducted several years ago revealed that the percent of public accountants changing companies within three years was 24. Round up your answers to the next whole number. a. To update this study, the files of how many public accountants should be studied? b. How many public accountants should be...
32. Suppose a survey is conducted five years ago at a university showed that there are...
32. Suppose a survey is conducted five years ago at a university showed that there are 500 students out of all the 5000 students would like to go graduate school after they obtained the bachelor’s degree. This year a new survey was conducted on a random sample of 500 students from this university, and it was found that 80 of them would like to go graduate school after they graduate. Do these data provide convincing evidence to suggest that the...
Business Week conducted a survey of graduates from 30 top MBA programs (Business Week, September 22,...
Business Week conducted a survey of graduates from 30 top MBA programs (Business Week, September 22, 2003). The survey found that the average annual salary for male and female graduates 10 years after graduation was $168,000 and $117,000, respectively. Assume the population standard deviation for the male graduates is $40,000, and for the female graduates it is $25,000. When calculating values for z, round to two decimal places. What is the probability that a simple random sample of 40 male...
7. A prospective study was conducted many years ago on a sample of young women in...
7. A prospective study was conducted many years ago on a sample of young women in Nebraska, to determine if there was an association between cigarette smoking during pregnancy and the incidence of miscarriages. Of the 385 mothers, 50 reported smoking cigarettes during pregnancy, and 10 of these had miscarriages. A total of 25 miscarriages occurred altogether. Assuming that the smoking and non-smoking subgroups were similar with regard to other factors and study was not biased, the relative risk (RR)...
1. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis...
1. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 162000 dollars. Assume the standard deviation is 31000 dollars. Suppose you take a simple random sample of 70 graduates. Find the probability that a single randomly selected policy has a mean value between 153848.5 and 170892.5 dollars. P(153848.5 < X < 170892.5) =  (Enter your answers as numbers accurate to...
Several years ago, the Mars, Incorporated website reported the following percentages of the various colors of...
Several years ago, the Mars, Incorporated website reported the following percentages of the various colors of its M&M'S candies for the "milk chocolate" variety.† A graphical display lists 6 colors. Beside each color is a picture of an M&M with the percentage listed below the picture. The colors and percentages are as follows. Brown: 13% Yellow: 14% Red: 13% Blue: 24% Orange: 20% Green: 16% A 14-ounce bag of milk chocolate M&M'S is randomly selected and contains 71 brown, 75...
In a recent marketing study, a demographic item asked professionals in the Denver Metropolitan area about...
In a recent marketing study, a demographic item asked professionals in the Denver Metropolitan area about their level of education. The number 12 would represent the 12 years of school required to finish high school; 14 could possibly indicate an associate’s degree; 16 would indicate graduation from a university with a bachelor’s degree; and anything higher than 16 would indicate graduate work. Below are the answers from the 12 individuals who responded. 12   18   16   15   18   14   16   11...
Ben Ofosu graduated from college six years ago with a finance undergraduate degree. Although he is...
Ben Ofosu graduated from college six years ago with a finance undergraduate degree. Although he is satisfied with his current job, his goal is to become an investment banker. He feels that an MBA degree would allow him to achieve this goal. After examining schools, he has narrowed his choice to either GIMPA or UGBS. Although internships are encouraged by both schools, to get class credit for the internship, no salary can be paid. Other than internships, neither school will...
Several years ago, the Mars, Incorporated website reported the following percentages of the various colors of...
Several years ago, the Mars, Incorporated website reported the following percentages of the various colors of its M&M'S candies for the "milk chocolate" variety.† A graphical display lists 6 colors. Beside each color is a picture of an M&M with the percentage listed below the picture. The colors and percentages are as follows. Brown: 13% Yellow: 14% Red: 13% Blue: 24% Orange: 20% Green: 16% A 14-ounce bag of milk chocolate M&M'S is randomly selected and contains 72 brown, 74...
A study conducted by a research group in a recent year reported that 58% of cell...
A study conducted by a research group in a recent year reported that 58% of cell phone owners used their phones inside a store for guidance on purchasing decisions. A sample of 16 cell phone owners is studied. Round the answers to four decimal places. Part 1 of 4 (a) What is the probability that seven or more of them used their phones for guidance on purchasing decisions? The probability that seven or more of them used their phones for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT