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  • Statisticians please help: Define margin of error for estimate of total entries to free event by sample count?

    A free event is being held over a period of 5 days, and is open 10 hours per day. The number of people entering during each hour is counted for the first day. Over the remaining 4 days, the number of people entering during specified 1 hour periods is counted. The hours counted are chosen so that the number of people entering between specific times is counted on at least two separate days. Estimates of total attendance on each day of the event over the last 5 years are available, enabling weighting of "busier" vs "lighter" days. If an estimated total attendance per day is then calculated, can a margin of error for the estimation be calculated. If so, how? If anyone has any links to papers, articles or other on-line resources on this type of problem, it would be greatly appreciated.

    Best answer will be chosen!

    Mathematics1 decade ago
  • Please help Economics gurus! I need clarification of the definition of intermediate vs final goods?

    Are products or services sold by one company or enterprise within an economy always intermediate, or only if the purchasing company then reprocesses and sells the same product again?

    I thought I understood the concept of intermediate demand, but now realise I'm wrong...

    Here's an example to explain where I got confused:

    Say I own a small company manufacturing paper.

    I sell 20% of my production direct to the public - so those sales would form part of my local economy's final demand for paper

    I sell another 30% of my production to a small publishing and printing company, which uses it to print books, fliers etc which they then sell. - that is clearly an intermediate sale

    I sell the remaining 50% of my output to a variety of other local businesses. None of these businesses produce any goods for sale which include paper, but they use my paper for the internal operations of their businesses, and for invoices etc. Does this 50% of my output represent final or intermediate demand for paper?

    I hope someone can help - I'm really confused....

    Thanks in advance

    2 AnswersEconomics1 decade ago