SOLUTION: You are in charge of the marketing research for a new product. What is the minimum sample size you will need to estimate the population proportion within 5%? Use a 99% confidence l

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Question 1056841: You are in charge of the marketing research for a new product. What is the minimum sample size you will need to estimate the population proportion within 5%? Use a 99% confidence level. Choose the correct value from below:

a. 666 (stay away from this one...)
b. 665
c. 664
d. 663
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You are in charge of the marketing research for a new product. What is the minimum sample size you will need to estimate the population proportion within 5%? Use a 99% confidence level. Choose the correct value from below:
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n = (z/E)^2*p*q
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n = (2.5758/0.05)^2*(1/2)(1/2)
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n = 664 (when rounded up)
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Cheers,
Stan H.
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a. 666 (stay away from this one...)
b. 665
c. 664
d. 663