question archive The market research director of a department store wants to study female customers’ spending on cosmetics
The market research director of a department store wants to study female customers’ spending on cosmetics
Subject:AccountingPrice:2.87 Bought7
The market research director of a department store wants to study female customers’ spending on cosmetics. A survey of the store’s female customers is designed in order to estimate the proportion of female customers who purchase their cosmetics primarily from this department and the mean annual amount that spent on cosmetics. A previous survey found that the standard deviation of the amount spent on cosmetics in a year is approximately $5,000.
a. What sample size is needed to have 99% confidence of estimating the population mean amount spent to within ± $500?
b. How many of the store’s customers need to be selected to have 99% confidence of estimating the true proportion of female customers who purchase their cosmetics primarily from this department to within ± 0.04 (4%)?
Option 1
Low Cost Option
Download this past answer in few clicks
2.87 USD
PURCHASE SOLUTION
Option 2
Custom new solution created by our subject matter experts
GET A QUOTE
rated 5 stars
Purchased 7 times
