Franchise Profits. According to Franchise Business Review, over 50% of all food franchises earn a profit of less than $50,000 a year. In a sample of 142 casual dining restaurants, 81 earned a profit of less than $50,000 last year. What is the point estimate of the proportion of casual dining restaurants that earned a profit of less than $50,000 last year? Answer Determine the margin of error and provide a 95% confidence interval for the proportion of casual dining restaurants that earned a profit of less than $50,000 last year. Answer How large a sample is needed if the desired margin of error is .03? Answer

Franchise Profits. According to Franchise Business Review, over 50% of all food franchises earn a profit of less than $50,000 a year. In a sample of 142 casual dining restaurants, 81 earned a profit of less than $50,000 last year. What is the point estimate of the proportion of casual dining restaurants that earned a profit of less than $50,000 last year? Answer Determine the margin of error and provide a 95% confidence interval for the proportion of casual dining restaurants that earned a profit of less than $50,000 last year. Answer How large a sample is needed if the desired margin of error is .03? Answer

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section: Chapter Questions

Problem 8SGR

See similar textbooks