SOLUTION: A researcher wishes to estimate ,with 99%confidence ,the percentage of adults who supported abolishing the penny.His estimate must be accurate within 4% of the true proportion.
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a
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Question 682459: A researcher wishes to estimate ,with 99%confidence ,the percentage of adults who supported abolishing the penny.His estimate must be accurate within 4% of the true proportion.
a.)find the minimum sample size needed using a prior study that found that 24% of the respondents said they support abolishing the penny?
b)what is the minimum sample size needed assuming that no prior information is available? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A researcher wishes to estimate ,with 99%confidence ,the percentage of adults who supported abolishing the penny.His estimate must be accurate within 4% of the true proportion.
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a.)find the minimum sample size needed using a prior study that found that 24% of the respondents said they support abolishing the penny?
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n = [z/E]^2*p*q
n = [2.5758/0.04]^2*0.24*0.76 = 757 when rounded up
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b)what is the minimum sample size needed assuming that no prior information is available?
n = [2.5758/0.04]*(1/2)^2 = 1037 when rounded up
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Cheers,
Stan H.
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