Answered: What does brand loyalty mean to…

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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Transcribed Image Text:What does brand loyalty mean to consumers? According to a recent research report, 38% of consumers associate trust with brand loyalty. Complete parts (a) through (e) below. ..... a. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.04 of the population proportion, how large a sample size is required? A sample size of 566 consumers is required. (Round up to the nearest integer.) b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within +0.04 of the population proportion, how many people need to be sampled? A sample size of 978 consumers is needed. (Round up to the nearest integer.) c. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.02 of the population proportion, how large a sample size is required? A sample size of 2263 consumers is required. (Round up to the nearest integer.) d. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within ±0.02 of the population proportion, how many people need to be sampled? A sample size of 3921 consumers is needed. (Round up to the nearest integer.) e. Discuss the effects of changing the desired confidence level and the acceptable sampling error on sample size requirements. Select all that apply. A. The higher the level of confidence desired, the larger is the sample size required. B. The higher the level of confidence desired, the smaller is the sample size required. C. The smaller the sampling error desired, the smaller is the sample size required. D. The higher the sampling error desired, the larger is the sample size required. E. The smaller the level of confidence desired, the larger is the sample size required. F. The smaller the sampling error desired, the larger is the sample size required. G. There are no effects on the sample size requirements.

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