Show work and formula please You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or...


Show work and formula please


You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles.  You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.03 margin of error at a 98% level of confidence.


a)  With no prior research, what sample size should you gather in order to obtain a 0.03 margin of error? Round your answerup to the nearest whole number.


n =  ______households


b)  Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.2p^=0.2 . Using this new information. what sample size should you gather in order to obtain a 0.03 margin of error? Round your answerup to the nearest whole number.


n =  _______ households



Jun 01, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here