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. I got part a. I'm
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-> 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. I got part a. I'm
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Question 1010286: 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. I got part a. I'm struggling with part b.
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? (Round your answer to the next whole number.)
Answer: Sample size 5683
b.
The Bureau feels the sample size determined above is too large. What can be done to reduce the sample? Based on your suggestion, recalculate the sample size. (Hint: Use an allowable error in the range of 0.01 to 0.05) (Round your answer to the next whole number.)
You can put this solution on YOUR website! Checking the first
z=(phat-p)/sqrt {(0.21)/n}
z^2*(0.21)=.0001n, squaring everything.
I agree with a.
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You can change either the error or the confidence.
Change the error as suggested to 5%
z^2*(0.21)=.0025n
n=228
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One may use any error in between. The above is the minimum sample size given the constraints.
