100% Thu 6:15 PM a mathxl.com Applied Managerial Statistics Homework: Week 6 Hom
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100% Thu 6:15 PM a mathxl.com Applied Managerial Statistics Homework: Week 6 Homework 40 pts Save Score: 0 of 3 pts 9 of 12 complete) HW Score: 52.5%, 21 of 40 pts 6.3.19-T Question Help * A researcher wishes to estimate, with 95% cofdence, the population proportion of adults who are confident with their country's banking system. His estimate must be acorate within 2% ofthe population propor on. (a) No preliminary estimate is available. Find the minimum sample size needed (b) Find the minum sample size needed, using a pnor study that found that 38% ofthe respondents said they are confident with their country's banking system (c) Compare the results from parts (a) and (b). (a) What is the minimum sample size needed assuming that no prior information is available? na(Round up to the nearest whole number as needed.)Explanation / Answer
when no preliminary estimate is given ,we take p=0.5
so,q=1-p =1-0.5 =0.5
E=0.02
For 95% confidence,Z/2 =1.96
Margin of error,E = Z/2 × [(p×q)/n]
0.02 =1.96 ×(0.5×0.5)/n
0.02 =1.96 x 0.5 /n
0.02 =0.98/n
n =0.98/0.02
n =49
n=49^2
n=2401
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