Answered: Insurance companies are interested in…

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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Related questions

Question

Insurance companies are interested in knowing the population percent of drivers who always buckle up before riding in a car.

When designing a study to determine this population proportion, what is the minimum number you would need to survey to be 99%99% confident that the population proportion is estimated to within 0.050.05?

The number of drivers surveyed needs to be at least

.

If it were later determined that it was important to be more than 99%99% confident and a new survey were commissioned, how would it affect the minimum number you need to survey? Why?

		The minimum number needed to survey will increase since increasing the confidence level increases the zz-score.
		The minimum number needed to survey will decrease since increasing the confidence level decreases the zz-score.
		The minimum number needed to survey will increase since increasing the confidence level decreases the zz-score.
		The minimum number needed to survey will decrease since increasing the confidence level increases the zz-score.