Question

In: Math

Note that the book states to use a value of 25% if you don’t know what...

Note that the book states to use a value of 25% if you don’t know what a good value is for the population estimate. Would we want to use this value in planning election polling? Why or why not? What would be the sample sizes needed to get a 95% confidence interval of plus or minus 3% given that the initial estimate of the population proportion is either 1%, 25%, 50%, 75% or 99% (calculate the five intervals). What do you notice that is interesting?

Solutions

Expert Solution

(a)

For p = 0.01:

= 0.05

From Table, critical values of Z = 1.96

e = 0.03

Sample Size (n) is given by:

(b)

For p = 0.25:

= 0.05

From Table, critical values of Z = 1.96

e = 0.03

Sample Size (n) is given by:

(c)

For p = 0.50:

= 0.05

From Table, critical values of Z = 1.96

e = 0.03

Sample Size (n) is given by:

(d)

For p = 0.75:

= 0.05

From Table, critical values of Z = 1.96

e = 0.03

Sample Size (n) is given by:

(e)

For p = 0.99:

= 0.05

From Table, critical values of Z = 1.96

e = 0.03

Sample Size (n) is given by:

Interesting to note is:

for p = 50%, n = 1068 is the highest sample size. The sample size reduces as p deviates from 0.50.


Related Solutions

Elementary statistics – Final assignment – Part two NOTE : Don’t use p-value for your decision...
Elementary statistics – Final assignment – Part two NOTE : Don’t use p-value for your decision in hypothesis testing problem Q2: a) You are interested in the average emergency room (ER) wait time at your local hospital. You take a random sample of 50 patients who visit the ER over the past week. From this sample, the mean wait time was 30 minutes and the standard deviation was 20 minutes. Find a 95% confidence interval for the average ER wait...
Suppose that the market for rutabagas (in case you don’t know, it is a root vegetable...
Suppose that the market for rutabagas (in case you don’t know, it is a root vegetable that’s also known as Swedish Turnip) is competitive. The demand for rutabagas is Q = 2, 000 − 100P and the supply of rutabagas is Q = −100 + 200P. (a) (10 points) Suppose that Governor Sloop imposes a $2 per unit tax to be paid by consumers. Who bears the statutory incidence of the $2 per unit tax? Who bears the economic incidence...
List the adult reference range for the following tests:   use your book and don’t forget labtestsonline.org as...
List the adult reference range for the following tests:   use your book and don’t forget labtestsonline.org as a resource Reticulocyte % Serum Iron Serum ferritin             Male             Female TIBC Transferrin saturation % Complete the following chart for the differential diagnosis of Microcytic/Hypochromic Anemias Anemia Fe Level Ferritin TIBC % Saturation Reticulocyte Iron Deficiency Iron deficiency with treatment for 12 days Anemia Beta Thalassemia Minor Hereditary Hemochromatosis Sideroblastic Anemia Explain ferritin levels replace the necessity of performing bone marrow aspirations on cases of...
AFM Radio Inc.’s equity has a book value of $25 million and a market value of...
AFM Radio Inc.’s equity has a book value of $25 million and a market value of $75 million. The market value of its debt is equal to the book value, $50 million. The company’s pre-tax cost of debt is 10%. The company’s stock has a beta of 1.5. Assume a corporate tax rate of 30%, a risk-free rate of 5%, and an expected market risk premium of 10%. (a) What’s the company’s cost of equity, rE? (b) What’s the company’s...
A company has a Book Value of 10,000,000 with 500,000 shares outstanding. What is book value...
A company has a Book Value of 10,000,000 with 500,000 shares outstanding. What is book value per share?                   1,000 shares have just been sold in the secondary market at 25/share. What is the company’s Market Value and market value per share?                   At day’s end the company issues 20,000 new shares at a price of 24/share. At that point what is the company’s market value & market value/share; and its book value & book value/share?
2)What are the main things that shift the consumption schedule?  Note that changes in income don’t shift...
2)What are the main things that shift the consumption schedule?  Note that changes in income don’t shift it because that is built into the slope.  List the things and think about the intuition of how they would affect your own consumption.            3)Consider Investment Demand. What is on the vertical axis? Note: I recommend thinking of the interest rate firms pay to borrow rather than the expected return (the book uses both terms on the vertical axis).  Explain why firms do more...
1.      If you don’t know where you are going ‘’all roads lead to your destination’’ Discuss...
1.      If you don’t know where you are going ‘’all roads lead to your destination’’ Discuss the forgone assertion in relation to the maintenance of a healthy organisational climate. ​Subject: Organisational Behavior & Management
What is the difference between book value, intrinsic value, enterprise value?
What is the difference between book value, intrinsic value, enterprise value?
I want to know the summary of a book. What is the key question of "The...
I want to know the summary of a book. What is the key question of "The Politics of Global Production: Apple, Foxconn and China's New Working Class" written by Selden, pun and Chan in 2013? and How does the writer answer the question?
Suppose a company has a book value of equity of $25 million, and has 1 million...
Suppose a company has a book value of equity of $25 million, and has 1 million shares outstanding. The company is expected to earn a net income of $5 million next year, and plans to plow back 20% of its earnings indefinitely to grow. The company has no debt and the firm’s equity holders require a return of 10% on their investment. With this information, answer the following three questions. (i) If we assume the company will grow at a...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT