Determine the necessary sample size. A market researcher wishes to estimate the proportion of U.S. consumers who started their Christmas shopping before Thanksgiving. What is the smallest number of U.S. consumers that should be surveyed in order to be 99% confident that the true proportion is estimated to within 3%? (Hint: use a 'worst case scenario' of p=0.50) 1844 1714 1068 461 1503

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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1)
Determine the necessary sample size.
A market researcher wishes to estimate the proportion of U.S. consumers who
started their Christmas shopping before Thanksgiving. What is the smallest number
of U.S. consumers that should be surveyed in order to be 99% confident that the
true proportion is estimated to within 3%?
(Hint: use a 'worst case scenario' of p=0.50)
1844
1714
1068
461
1503
Transcribed Image Text:Determine the necessary sample size. A market researcher wishes to estimate the proportion of U.S. consumers who started their Christmas shopping before Thanksgiving. What is the smallest number of U.S. consumers that should be surveyed in order to be 99% confident that the true proportion is estimated to within 3%? (Hint: use a 'worst case scenario' of p=0.50) 1844 1714 1068 461 1503
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