Task: 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 obtain a sample proportion of $\hat{p} = 0.2$. 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

Given, margin of error = 0.02 p^ = 0.2 and level of significance is not mentioned here. So, we…

b) Your firm has decided that your pl too expensive, and they wish to reduc sample size required. You conduct a s preliminary sample, and you obtain a sample proportion of ôp = 0.2. Using new information. what sample size sh you gather in order to obtain a 0.02 n

b) Your firm has decided that your pl too expensive, and they wish to reduc sample size required. You conduct a s preliminary sample, and you obtain a sample proportion of ôp = 0.2. Using new information. what sample size sh you gather in order to obtain a 0.02 n

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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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.

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<b>Task:</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 obtain a sample proportion of $\hat{p} = 0.2$. 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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