Explore BrainMass

Explore BrainMass

    Random Sample

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    In this there is a two-step procedure to select a simple random sample of 30 EAI managers. Use this procedure to select a simple random sample of 50 EAI managers.

    © BrainMass Inc. brainmass.com December 24, 2021, 6:29 pm ad1c9bdddf


    Solution Preview

    Here is one way of selecting a random sample of 30 in Excel. We can use a binomial random variable to select 30 of the managers at random out of the total of 2500. The random variable will return a 1 or a 0 in a certain proportion based on the probability that we enter. Here the probability used is 30/2500 = 0.012 for a value of 1 and 2470/2500 = 0.988 for a ...