Determine the sample size needed so that we are confident

Assignment Help Applied Statistics

Reference no: EM13909966

Suppose we conduct a poll to estimate the proportion of voters who favor a major presidential candidate. Assuming that 50 percent of the electorate could be in favor of the candidate, determine the sample size needed so that we are 95 percent confident that pˆ, the sample proportion of voters who favor the candidate, is within a margin of error of .01 of p, the proportion of all voters who are in favor of the candidate.

Text Book: Business Statics in Practice By BOWERMAN.

Reference no: EM13909966

Questions Cloud

Calculate the required sample size n : This indicates that the reasonable value for p that is closest to .5 is .57, and thus the largest reasonable value for p(1 - p) is .57(1 - .57) = .2451. Calculate the required sample size n.

Can a swiss investor earn a guaranteed profit : Ignoring transaction cost does a U.S. investor have an opportunity to earn a guaranteed profit? What actions would he have to take and what is his profit if any. He has $1,000,000 to invest.

Compute the gram molecular weight of dry air : Dry air is a mixture, by volume, of 78% nitrogen (N2), 21% Oxygen (O2) and Argon (Ar 40 g). a) Compute the gram molecular weight of dry air

Is the swap attractive to round rock national : Round Rock National's correspondent, Citicorp, offered to arrange a swap with $1,000,000 principal that would allow Round Rock to receive interest at 1% over LIBOR and pay at 1% over T-bill. Is the swap attractive to Round Rock National?

Determine the sample size needed so that we are confident : Determine the sample size needed so that we are 95 percent confident that pˆ, the sample proportion of voters who favor the candidate.

Balanced chemical equation for the reaction : Magnesium combines with chlorine, Cl2, to form magnesium chloride, MgCl2, during a synthesis reaction. Write a balanced chemical equation for the reaction.

Pros and cons of using personality tests as predictors : Discuss the pros and cons of using personality tests as predictors of job performance

Differentiates employee grievances and employee complaints : differentiates employee grievances and employee complaints

Explain why the finite population correction is unnecessary : Explain why the finite population correction 1(N - n)/N is unnecessary when the population is at least 20 times as large as the sample. Give an example using numbers.

User Account

All Pages