A sample with a fixed cost of 170,000 ₺ will be selected in a research where the population budget is at most 2,000,000 ₺. The cost for each sampling unit is 3,500 ₺. What is the size of the sample that can be created with this budget? A) 2647 B) 769 C) 523 D) 459 E) 384
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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A sample with a fixed cost of 170,000 ₺ will be selected in a research where the population budget is at most 2,000,000 ₺. The cost for each sampling unit is 3,500 ₺. What is the size of the sample that can be created with this budget? |
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Given
Fixed cost = 170,000
Budget = 2,000,000
Available budget we have = Budget - Fixed cost = 2,000,000 - 170,000 = 1830000
Cost of each sample = 3500
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