Which store do you think is more expensive-physical or online? A recent survey (USA Today, December 10,

Question:

Which store do you think is more expensive-physical or online? A recent survey (USA Today, December 10, 2012, p. 1B) found that 46% of people aged 20 to 40 thought that physical stores were more expensive.
a. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within {0.03 of the population proportion, how many people aged 20 to 40 needs to be sampled?
b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within {0.05 of the population proportion, how many people aged 20 to 40 needs to be sampled?
c. Compare the results of (a) and (b).
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Basic Business Statistics

ISBN: 9780321870025

13th Edition

Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat

Question Posted: