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I need help for Q5 using Data Analysis (Sample size for a Proportion and Sample size for a Mean) in excel. Please find the question
I need help for Q5 using Data Analysis (Sample size for a Proportion and Sample size for a Mean) in excel. Please find the question 5 in the screenshot and google link to data set or reference file to work on. Thanks in advance.
https://docs.google.com/spreadsheets/d/1N1-4py_msaIdohvKMD_qvQfr5mdWEe9F/edit?usp=sharing&ouid=116530119154629136960&rtpof=true&sd=true
Q5. Appropriate sample size Finally, I am concerned that the sample of 400 Australians is too small to provide accurate results as this seems hardly enough data. For a survey we intend to undertake next year, we would like to be able to: (a) calculate approximately the average monthly payment {\"Monthly_Payment\"} amount people are willing to pay in orderto have net zero emission electricity bills through renewable energy to within 530, and (b) estimate the proportion of Australian residents that have at least some level of concern (\"Concerned\") regarding the uptake of renewable energy technologies to within 3%. Therefore, how many Australian residents would we need to include in next year's survey to satisfy both of these requirements? Please use the google drive link for the excel data set, link given in same question using linkStep by Step Solution
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