GB 513 RANK Imagine Your Future /gb513rank.com GB 513 RANK Imagine Your Future /gb513rank.com | Page 6

b. What is the probability that between 15% and 20% of the
business travelers say that the reason for their most recent business
trip was an internal company visit?
c. What is the probability that between 133 and 171 of the business
travelers say that the reason for their most recent business trip was
an internal company visit?
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GB 513 Unit 3 Assignment
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Question 1
A group of investors wants to develop a chain of fast-food
restaurants. In determining potential costs for each facility, they
must consider, among other expenses, the average monthly electric
bill. They decide to sample some fast-food restaurants currently
operating to estimate the monthly cost of electricity. They want to be
90% confident of their results and want the error of the interval
estimate to be no more than $100. They estimate that such bills
range from $600 to $2,500. How large a sample should they take?
Question 2