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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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Question

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 90% 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. Your conduct a small preliminary sample, and you obtain a sample proportion of p^= 0.18. 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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