Question
You work in a store where the chance of each customer making a purchase is p. Using Chebyshev's inequality, you want to estimate the value
You work in a store where the chance of each customer making a purchase is p.
Using Chebyshev's inequality, you want to estimate the value of p within 10%.
How many randomly and independently selected customers do you need to observe to have 85% confidence in your estimate of p?
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Numerical Analysis
Authors: Richard L Burden, J Douglas Faires, Annette M Burden
10th Edition
1305465350, 9781305465350
