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Could you please review 3.b) and 3.c) let me know if I missed anything particularly for 3.c). Thanks! Problem 3b Referring to Problem 3a above,
Could you please review 3.b) and 3.c) let me know if I missed anything particularly for 3.c). Thanks!
Problem 3b Referring to Problem 3a above, find the minimum number of customers that must be sampled in order for the 96% confidence interval estimate to be within 2% of the true population proportion Use the sample proportion from your survey in Problem 1, as the preliminary estimate of the true population proportion. Show all work m. E = 0 02 (margin of ever) ;, p = 0.60 ; 7=2.05 [3 marks] Given M. E - Z . Jp ( I- p ) => n= [2 2. P . (1- p )] h M. F Z LD n= [2.05-0.60. (1- 0.60)] 4. 2025 . 0.24 n = 2521.5 =D> 0 00 04 0 . 02 2 minimum of 2522 customers to be sampled in order for the 961. confidence interval estimate to be within 21. of true population proportion. Problem 3c. What key assumption did you make in order to be able to use the formula shown in Problem 3a above? Is this assumption satisfied based on the 20 values you created for Variable 1 in Problem 1? Fully Explain. [2 marks] That the Sample is random and that the Sampling distribution is approximately normal. LD Sampling distribution of proportion obeys binomial probability law if the random Sample is obtained with replacement LD which the 20 values were when createdStep by Step Solution
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