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4. The Department of the Treasury is interested in finding out what proportion of people support abolishing the penny. Previous research estimated it to be 15%. How large a sample should be surveyed in order to obtain the result with a 2% margin of error and 95% confidence?

4. The Department of the Treasury is interested in finding out what proportion of people support abolishing the penny. Previous research estimated it to be 15%. How large a sample should be surveyed in order to obtain the result with a 2% margin of error and 95% confidence?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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4. The Department of the Treasury is interested in finding out what proportion of people support abolishing the penny. Previous research estimated it to be 15%. How large a sample should be surveyed in order to obtain the result with a 2% margin of error and 95% confidence? 5. A researcher is interested in constructing a confidence interval for the number of hours per week a typical person watches TV. Initial results indicate that the standard deviation is s = 7.5 hours. a) How large a sample is required to obtain a 95% confidence interval with a margin of error of 2 hours? b) How large a sample is required to obtain a 95% confidence interval with a margin of error of 1 hour? c) How large a sample is required to obtain a 99% confidence interval with a margin of error of 1 hour? d) Notice that to get smaller error and/or higher confidence, you need a larger sample. This result is an example of which important Law?
Transcribed Image Text:4. The Department of the Treasury is interested in finding out what proportion of people support abolishing the penny. Previous research estimated it to be 15%. How large a sample should be surveyed in order to obtain the result with a 2% margin of error and 95% confidence? 5. A researcher is interested in constructing a confidence interval for the number of hours per week a typical person watches TV. Initial results indicate that the standard deviation is s = 7.5 hours. a) How large a sample is required to obtain a 95% confidence interval with a margin of error of 2 hours? b) How large a sample is required to obtain a 95% confidence interval with a margin of error of 1 hour? c) How large a sample is required to obtain a 99% confidence interval with a margin of error of 1 hour? d) Notice that to get smaller error and/or higher confidence, you need a larger sample. This result is an example of which important Law?
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