and ask interest in the new product. The response is on a 1 to 5 scale with 1 in

Question

and ask interest in the new product. The response is on a 1 to 5 scale with 1 indicating "definitely would not purchase"; 2, "probably would not purchase": 3, "not sure": 4, "proba would purchase": and 5, "definitely would purchase." For an initial analysis, you will record the responses 1, 2, and 3 as "No" and 4 and 5 as "Yes." wWhat sample size would use if you wanted the 98% margin of error to be 0.13 or less. (Round your answer up to the nearest whole number.) 8 E 506 XP An will be about o.25. Find the sample size needed if the margin of error of the confidence interval is to he no more than 0.03. ( number O The nul hypothesis Hi should indicate that the two means are not equal

Explanation / Answer

Q1.

Compute Sample Size ( n ) = n=(Z/E)^2*p*(1-p)

Z a/2 at 0.02 is = 2.326

Sample Proportion = 3/5 = 0.6

ME = 0.13

n = ( 2.326 / 0.13 )^2 * 0.6*0.4

= 76.8323 ~ 77

Q2.

Compute Sample Size ( n ) = n=(Z/E)^2*p*(1-p)

Z a/2 at 0.05 is = 1.96

Sample Proportion = 0.25

ME = 0.03

n = ( 1.96 / 0.03 )^2 * 0.25*0.75

= 800.3333 ~ 801

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