Whats the necessary sample size

Assignment Help Basic Statistics
Reference no: EM131419891

It's believed that as many as 25% of adults over 50 never graduated from high school. We wish to see if this percentage is the same among the 25 to 30 age group.

a) How many of this younger age group must we survey in order to estimate the proportion of non-grads to within 6% with 90% confidence?

b) Suppose we want to cut the margin of error to 4%. What's the necessary sample size?

c) What sample size would produce a margin of error of 3%?

Reference no: EM131419891

Questions Cloud

What is the spring constant of the spring : A 1200 safe is 1.9 above a heavy duty spring when the rope holding the safe breaks. The safe hits the spring and compresses it 54 cm. What is the spring constant of the spring
What is the current market price of the bonds : The bonds have a 11.17 percent coupon rate and pay interest annually. The current market rate of interest on the fresh water Inc bonds is 8.42 percent. What is the current market price of the bonds?
What sample size will suffice : How many randomly selected employers must we contact in order to create an estimate in which we are 98% confident with a margin of error of 5%?
Cost of common equity financing using gordon model : Company's dividends are expected to grow at an annual rate of 5% forever. The company's common stock is currently selling on the market for $84.28. The investments banker will charge flotation costs $2.67 per share. Calculate the cost of common eq..
Whats the necessary sample size : How many of this younger age group must we survey in order to estimate the proportion of non-grads to within 6% with 90% confidence?
What types of inventory make good collateral : What impact does a compensating balance requirement have on the cost of borrowing from a bank if the firm generally holds little or no checking balances at the bank? What would the impact be if the firm holds large checking balances?
Describe the implementation and evaluation of innovation : Description of the implementation and evaluation of innovation. Evaluation of external technology acquisition and implementation processes. Analysis of the organization's ecosystem in terms of innovation.
Find a confidence interval for the success rate at clinic : Find a 90% confidence interval for the success rate at this clinic.- Interpret your interval in this context.- Explain what 90% confidence means.
What kinds of firms use commercial paper : The availability of bank credit often is more important to a small firm than to a large one. Why?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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