Estimate percentage of households owned a vehicle

Assignment Help Basic Statistics

Reference no: EM13137514

Sample Size for Motor Vehicle Ownership: You have been hired by the Ford Motor Company to do market research, and you must estimate the percentage of household in which a vehicle is owned. How many households must you survey is you want to be 94% confident that your sample percentage has a margin of error of three percentage points?

a) Assume that a previous study suggested that vehicles are owned in 86% of households.
P= .86, q= .14, n= 473
Thus, there are about 473 households must be survey.
b) Assume that there is no available information that can be used to estimate the percentage of households in which a vehicle is owned.

Reference no: EM13137514

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