Math

StatisticsSTATISTICS F/BUSINESS+ECONOMICS-TEXTA stratified simple random sample is to be taken of a bank’s customers to learn about a variety of altitudinal and demographic issues. The stratification is to be based on savings account balances as of January 30, 2013. A frequency distribution showing the number of accounts in each stratum, together with the standard deviation of account balances by stratum, follows. Stratum ($) Accounts Standard Deviation of Account Balances 0.00–1000.00 3000 80 1000.01–2000.00 600 150 2000.01–5000.00 250 220 5000.01–10,000.00 100 700 over 10,000.00 50 3000 a. Assuming the cost per unit sampled is approximately equal across strata, determine the total number of persons to include in the sample. Assume we want a bound on the error of estimate of the population mean for savings account balances of B = $20. b. Use the Neyman allocation procedure to determine the number to be sampled for each stratum.BuyFind*launch*

13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 22, Problem 23SE

Textbook Problem

A stratified simple random sample is to be taken of a bank’s customers to learn about a variety of altitudinal and demographic issues. The stratification is to be based on savings account balances as of January 30, 2013. A frequency distribution showing the number of accounts in each stratum, together with the standard deviation of account balances by stratum, follows.

Stratum ($) |
Accounts |
Standard Deviation of Account Balances |

0.00–1000.00 | 3000 | 80 |

1000.01–2000.00 | 600 | 150 |

2000.01–5000.00 | 250 | 220 |

5000.01–10,000.00 | 100 | 700 |

over 10,000.00 | 50 | 3000 |

- a. Assuming the cost per unit sampled is approximately equal across strata, determine the total number of persons to include in the sample. Assume we want a bound on the error of estimate of the population mean for savings account balances of
*B*= $20. - b. Use the Neyman allocation procedure to determine the number to be sampled for each stratum.

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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