In: Statistics and Probability
what is the minimal sample size needed for a 95% confidence interval to have a maximal margin of error of 0.1 in the following scenarios? ( Round your answers up to the nearest whole number)
(a) a preliminary estimate for p is 0.34
(b) there is no preliminary estimate for p
a)
Solution :
Given that,
=
0.34
1 -
= 1 - 0. 34= 0.66
margin of error = E = 0.1
At 95% confidence level the z is ,
= 1 - 95% = 1 - 0.95 = 0.05
/ 2 = 0.05 / 2 = 0.025
Z/2 = Z0.025
= 1.96
Sample size = n = (Z/2
/ E)2 *
* (1 -
)
= (1.96 / 0.1)2 * 0.34 * 0.66
= 86.205504
Sample size =87
b)
Solution :
Given that,
=
0.5
1 -
= 1 - 0.5 = 0.5
margin of error = E = 0.1
At 95% confidence level the z is ,
= 1 - 95% = 1 - 0.95 = 0.05
/ 2 = 0.05 / 2 = 0.025
Z/2 = Z0.025
= 1.96
Sample size = n = (Z/2
/ E)2 *
* (1 -
)
= (1.96 / 0.1)2 * 0.5 * 0.5
= 96.04
Sample size =96