**Task Overview for Marketing Firm**You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. Your task is to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 95% level of confidence.**Objective**a) Without any prior research, determine what sample size should be gathered to obtain a 0.02 margin of error. Round your answer up to the nearest whole number.**Required Sample Calculation**n = [Textbox for input] households

margin of error = zα p(1-p)/n margin of error = 0.02 for 95% confidence interval zα = 1.96

Answered: a) With no prior research, what sample…

a) With no prior research, what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = households

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

**Task Overview for Marketing Firm**

You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. Your task is to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 95% level of confidence.

**Objective**

a) Without any prior research, determine what sample size should be gathered to obtain a 0.02 margin of error. Round your answer up to the nearest whole number.

**Required Sample Calculation**

n = [Textbox for input] households

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