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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. households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.185. Using this new information. what sample size should you gather in order to obtain a 0.02 margin of error? Round your

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. households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.185. Using this new information. what sample size should you gather in order to obtain a 0.02 margin of error? Round your

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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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. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 98% level of confidence. 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 b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.185. Using this new information. 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
Transcribed Image Text: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. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 98% level of confidence. 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 b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.185. Using this new information. 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
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