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 0.015 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 0.015 margin of error? b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.24 . Using this new information. what sample size should you gather in order to obtain a 0.015 margin of error?

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 0.015 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 0.015 margin of error? b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p = 0.24 . Using this new information. what sample size should you gather in order to obtain a 0.015 margin of error?

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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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 0.04 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 0.04 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. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.205 Using this new information. what sample size should you gather in order to obtain a 0.04 margin of error? Round your answer up to the nearest whole number. n= _____ households
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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 95% 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. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.225p . 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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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 0.04 margin of error at a 80% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.04 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. You conduct a small preliminary sample, and you obtain a sample proportion of p= 0.23. Using this new information. what sample size should you gather in order to obtain a 0.04 margin of error? Round your answer up to the nearest whole number. n = households > Next Question Esc FnLock Galaxy S22 Ultra F1 a 4 F2 4+ F3 #3 X F4 J $ 4 F5 G слоо % + F6 5 90 F7 A 6 X: y: 7 71 F8 63…
You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. a) How many households would you need to sample to be within 1.5 percent of the proportion of all households in Chicago that have two or more vehicles at a 95% level of confidence. b) You conduct a small preliminary sample, and you obtain a sample proportion of 20% that have two or more cars. Using this new information, what sample size should you gather in order to be within 1.5 percent of the proportion of all households in Chicago that have two or more vehicles at a 95% level of confidence.
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