Credit will be awarded for clarity of exposition

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Reference no: EM131033488

1. Suppose that a researcher is in discussion with a client to undertake a telephone interview survey for a particular topic. An agreement is made for the client to pay the researcher a flat $20,000 for data collection part only (fees for other services are to be negotiated separately). According to the agreement, the client expects a level of 95.44% confidence in the results with a 4% level of tolerable sample error. The researcher arranges to subcontract the telephone survey to a field services firm. The negotiated payment to the field services firm will be $10 per usable response. How much profit (if any) will the researcher make from the data collection part of the survey? Begin your answer with that amount. Then briefly describe how you determined your response. (Credit will be awarded for clarity of exposition.)

2. Assuming that the research objectives of a study can indeed be accomplished, would researchers prefer to estimate the required sample size using the sample proportion formula or the sample means formula? Begin your answer with “proportion” or “means.” If it does not matter (that is, there is no difference between the two approaches), then begin your answer with “either.” Briefly explain why you made whichever recommendation you did.

Reference no: EM131033488

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