Score: 05 of 1 pl Question Help | 8.4.48-T According to a study 65% of financial

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Score: 05 of 1 pl Question Help | 8.4.48-T According to a study 65% of financial institutions use churn rate attrition) to gauge he effectiveness of their marketing efforts Complete parts a) and (b) a.if you conduct a follow-up study to estimate the population proportion of financial institutions that use churn rate to gauge the effectiveness of their marketing efforts would you use a x of 0.65 or 0.50 in the sample size formula? A. Use x-065 because this value will produce the greater sample size B. Use 065 because this value is an educated estimate of x. ° C. Use :0 50 because this value is an educated estimate of . 0 D. Use 0.50 because this value will produce the greater sample size b. Using your answer to (a) find the sample size necessary to estimate, with 99% confidence, the population proportion to with n . The sample size needed is Round up to the nearest integer.) Enter your answer in the answer box and then click Check Answer All parts showing Clear All Check Answer Would you like to store your password for mypearson.com? Why am I seeing this? Yes Not for this site

Explanation / Answer

here p=0.65 ; margin of error E =0.06 for 99% Ci ; crtiical z =2.5758

therfore required sample size n=(z*std deviaiton/E)2 =~ 420

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