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Business / Statistics for Business and Economics 12 / Chapter 6 / Problem 70E

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

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Solved: Accounting and Machiavellianism. Refer to the

Chapter 6, Problem 70E

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QUESTION:

Problem 70E

Accounting and Machiavellianism. Refer to the Behavioral Research in Accounting (Jan. 2008) study of Machiavellian traits in accountants, Exercise 6.19 (p. 310), where a Mach rating score was determined for each in a sample of accounting alumni who work as purchasing managers. Suppose you want to reduce the width of the 95% confidence interval for the true mean Mach rating score of all purchasing managers you obtained in Exercise 6.19b. How many purchasing managers should be included in the sample if you desire a sampling error of only 1.5 Mach rating points? Use σ ≈ 12 in your calculations.

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QUESTION:

Problem 70E

Accounting and Machiavellianism. Refer to the Behavioral Research in Accounting (Jan. 2008) study of Machiavellian traits in accountants, Exercise 6.19 (p. 310), where a Mach rating score was determined for each in a sample of accounting alumni who work as purchasing managers. Suppose you want to reduce the width of the 95% confidence interval for the true mean Mach rating score of all purchasing managers you obtained in Exercise 6.19b. How many purchasing managers should be included in the sample if you desire a sampling error of only 1.5 Mach rating points? Use σ ≈ 12 in your calculations.

ANSWER:

Solution

Step 1 of 1

We have to find how many purchasing managers should be included in the sample

From the given problem $\alpha{}=0.05\ then%$

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