What sample size will be needed

Assignment Help Basic Statistics
Reference no: EM132422277

Problem: A study of credit card statement revealed that on average 32% of customers only pay the minimum amount every month with a margin of error of 4%. What sample size will be needed, if we want to have a 2.5% margin or error? (All analysis is done for the 95% confidence level). Can you please help me by providing the authentic solution of this problem.

Reference no: EM132422277

Questions Cloud

How do i compute the pearson correlation coefficient : (a) How do I compute the Pearson correlation coefficient? (Round your answer to three decimal places.)
How do i compute the pearson correlation coefficient : The data below is collected to analyze the correlation between scores on two surveys that are supposed to measure the same construct.
What types risks is the business dealing with : What are the most important external trends affecting my marketing?What opportunities and threats do external factors pose to my organization?
What is the probability that none of the next 3 customers : What is the probability that none of the next 3 customers will make a purchase?
What sample size will be needed : What sample size will be needed, if we want to have a 2.5% margin or error? (All analysis is done for the 95% confidence level).
What is the probability that a randomly selected hamster : What is the probability that a randomly selected hamster in the pet store will get adopted and live 7 or more years?
Predict the annual salary of someone : Predict the annual salary of someone who has a GPA of 3.1. thousand dollars.
Find the chance that the average of the draws : Pick out 100 pieces of paper with replacement at random. We expect the average to be with a standard error of. (Hint: The standard deviation of the list is 4.43
Does apple inc have an evident overall purpose : Does organization have clear content mission statement?What would you do differently to improve this organization's social media presence?

Reviews

Write a Review

Basic Statistics Questions & Answers

  What is the standard error of measurement

What is the standard error of measurement?

  Consider a random sample of size n from a poisson

consider a random sample of size n from a poisson distribution xi poim.a find the crlb for the variances of

  Process be considered in control or out of control

If a randomly selected minute has 118 rotations per minute, would the process be considered in control or out of control?

  Refer to the buena school district bus data develop a 95

refer to the buena school district bus data.develop a 95 percent confidence interval for the mean bus

  Assignment-steps to hypotheses testing

For this Assignment, review this week's Learning Resources, including the 5 step approach to hypothesis testing document. Read the research scenario

  Find confidence intervals for the average call times

A study of nonfatal occupational injuries in the United States found that about 31% of all injuries in the service sector involved the back. The National Institute for Occupational Safety and Health (NIOSH) recommended conducting a comprehensive e..

  Describe a possible sampling procedure

Describe a possible sampling procedure using a nonprobability sampling technique. Then describe how you might sample books using a probability sampling technique.

  Among 18 patients with depression the mean number of

among 18 patients with depression the mean number of treatment days was 4.7 with a standard deviation of 9.3. for 10

  What formula would i use can you break it down into baby

What formula would I use? Can you break it down into baby steps so I can understand how you got the answer?

  Presidential election and margin of error

Polls showed the two main candidates in the 2004 presidential election were nearly tied on the day before the election. To predict the winner a newspaper would like to have a poll that has margin of error less than 1%. Roughly how large a sample w..

  Preference for powerade

Ashley is a hard-core runner. She and all her friends prefer Powerade Ion4 to Gatorade. Explain why Ashley's experience is not good evidence

  What is the probability of either a or b occurring

The probabilities of the events A and B are .20 and .30, respectively. The probability that both A and B occur is .15.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd