document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1043432>Question 1043432</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A researcher wishes to&#8203; estimate, with 90&#8203;% &#8203;confidence, the population proportion of adults who  are confident with their&#8203; country's banking system. His estimate must be accurate within 3&#8203;% of the population proportion.<BR>\n" );
document.write( "&#8203;(a) No preliminary estimate is available. Find the minimum sample size needed.\r<BR>\n" );
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document.write( "&#8203;(b) Find the minimum sample size&#8203; needed, using a prior study that found that 24&#8203;% of the respondents said they are confident with their&#8203; country's banking system.\r<BR>\n" );
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document.write( "&#8203;(c) Compare the results from parts &#8203;(a) and &#8203;(b).  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #658595 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=658595\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A researcher wishes to&#8203; estimate, with 90&#8203;% &#8203;confidence, the population proportion of adults who are confident with their&#8203; country's banking system. His estimate must be accurate within 3&#8203;% of the population proportion.<BR>\n" );
document.write( "&#8203;(a) No preliminary estimate is available. Find the minimum sample size needed.<BR>\n" );
document.write( "n = [1.645/0.03]^2*0.5^2 = 752 when rounded up<BR>\n" );
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document.write( "&#8203;(b) Find the minimum sample size&#8203; needed, using a prior study that found that 24&#8203;% of the respondents said they are confident with their&#8203; country's banking system.<BR>\n" );
document.write( "n = [1.645/0.03]^2*0.24*0.76 = 549 when rounded up<BR>\n" );
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document.write( "&#8203;(c) Compare the results from parts &#8203;(a) and &#8203;(b).<BR>\n" );
document.write( "With (b) you have more information to use to get<BR>\n" );
document.write( "the estimate so your sample can be smaller.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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