SOLUTION: A marketing manager is in the process of deciding whether to introduce a new product. He has concluded that he needs to perform a market survey in which he asks a random sample of

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Question 1176563: A marketing manager is in the process of deciding whether to introduce a new product. He has concluded that he needs to perform a market survey in which he asks a random sample of people whether they will buy the product. How large a sample should he take if he wants to estimate the proportion of people who will buy the product to within 3%, with 99% confidence?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!

Hi

n = %28z%2FME%29%5E2+%28p%281-p%29%29%29
n = %282.576%2F.03%29%5E2+%28.5%2A.5%29%29   |Using p = .5
n = 1843.27   0r 1844 rounded up to next whole number

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