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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

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

MATLAB: An Introduction with Applications
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 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 55 26,24,1 ∞07 30 O 23 C 90,73,40, Regression y = 15.03 F 7
Transcribed Image Text: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 55 26,24,1 ∞07 30 O 23 C 90,73,40, Regression y = 15.03 F 7
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