SOLUTION: Past surveys reveal that 30% of tourists going to Las Vegas to gamble spend more than $1,000. The Visitor’s Bureau of Las Vegas wants to update this percentage.
a.
The new st
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Question 1002333: Past surveys reveal that 30% of tourists going to Las Vegas to gamble spend more than $1,000. The Visitor’s Bureau of Las Vegas wants to update this percentage.
a.
The new study is to use the 90% confidence level. The estimate is to be within 1% of the population proportion. What is the necessary sample size
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Past surveys reveal that 30% of tourists going to Las Vegas to gamble spend more than $1,000. The Visitor’s Bureau of Las Vegas wants to update this percentage.
a.
The new study is to use the 90% confidence level. The estimate is to be within 1% of the population proportion. What is the necessary sample size
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Since E(x) = z*sqrt(pq/n),
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n = [z/E]^2*p*q
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n = [1.645/0.01]^2*0.3*0.7
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n = [164.5]^2*0.3*0.7
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n = 5683 when rounded up
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Cheers,
Stan H.
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