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The management of a local restaurant wants to conduct a survey to determine the effectiveness of price promotion for a new menu. The research agency thinks that this figure is as high as 70 percent. Management would like a 95% confidence interval and a margin of error no greater than plus or minimum 2 percent. a. What sample size should be used for this study? b. Suppose that management wanted to be 99% confident but could tolerate an error of plus or minus 3 percent. How would the sample size change

The management of a local restaurant wants to conduct a survey to determine the effectiveness of price promotion for a new menu. The research agency thinks that this figure is as high as 70 percent. Management would like a 95% confidence interval and a margin of error no greater than plus or minimum 2 percent. a. What sample size should be used for this study? b. Suppose that management wanted to be 99% confident but could tolerate an error of plus or minus 3 percent. How would the sample size change

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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2. The management of a local restaurant wants to conduct a survey to determine the effectiveness of price promotion for a new menu. The research agency thinks that this figure is as high as 70 percent. Management would like a 95% confidence interval and a margin of error no greater than plus or minimum 2 percent.

a. What sample size should be used for this study?

b. Suppose that management wanted to be 99% confident but could tolerate an error of plus or minus 3 percent. How would the sample size change?

 

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