A study of the career paths of hotel general managers sent questionnaires to an
ID: 3133347 • Letter: A
Question
A study of the career paths of hotel general managers sent questionnaires to an SRS of 230 hotels belonging to major U.S. hotel chains. There were 119 responses. The average time these 119 general managers had spent with their current company was 11.63 years. (Take it as known that the standard deviation of time with the company for all general managers is 1.3 years.)
A.Find the margin of error for an 80% confidence interval to estimate the mean time a general manager had spent with their current company:_____ years
B.Find the margin of error for a 99% confidence interval to estimate the mean time a general manager had spent with their current company:_____ Years
Explanation / Answer
A study of the career paths of hotel general managers sent questionnaires to an SRS of 230 hotels belonging to major U.S. hotel chains. There were 119 responses. The average time these 119 general managers had spent with their current company was 11.63 years. (Take it as known that the standard deviation of time with the company for all general managers is 1.3 years.)
A.Find the margin of error for an 80% confidence interval to estimate the mean time a general manager had spent with their current company: 0.1527 years
margin of error when known, z* /sqrt(n)
Z value for 80% level, z=1.282
margin of error=1.282*1.3/sqrt(119)
= 0.1527
B.Find the margin of error for a 99% confidence interval to estimate the mean time a general manager had spent with their current company: 0.3070 Years
Z value for 99% level, z=2.576
margin of error=2.576*1.3/sqrt(119)
= 0.3070
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