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A STUDY OF CUSTOMERS’ PREFERENCES IS DESIGNED. THE MARKET RESEARCH SPECIALISTS WANT TO ESTIMATE PROPORTION OF...

A STUDY OF CUSTOMERS’ PREFERENCES IS DESIGNED. THE MARKET RESEARCH SPECIALISTS WANT TO ESTIMATE PROPORTION OF SATISFIED CUSTOMERS AT THE SPECIFIED CONFIDENCE LEVEL (= C) AND ENSURE THAN THE MARGIN OF ERROR DOES NOT EXCEED THE BOUND (= E).

(A) SET THE 90% CONFIDENCE LEVEL AND BOUND EQUAL TO 2.9%. WHAT IS THE SMALLEST SAMPLE SIZE NEEDED?
SHOW THE FORMULA AND CALCULATIONS, PLEASE.

CRITICAL VALUE =

SAMPLE SIZE =

WILL THE SAMPLE OF SIZE 900 BE SUFFICIENT?

(B) THE DIRECTOR OF MARKET RESEARCH DIVISION WANTS A 99% CONFIDENCE INTERVAL WITH THE MARGIN OF ERROR WITHIN ± 3.5%.

WHAT IS THE SMALLEST SAMPLE SIZE NEEDED? SHOW THE FORMULA AND CALCULATIONS, PLEASE.

CRITICAL VALUE =

SAMPLE SIZE =

WILL THE SAMPLE OF SIZE 900 BE SUFFICIENT?

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orchestra answered 2 years ago
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