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    Sample Type, Sample Size, Type of Data

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    1. Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package. She plans to use a 80% confidence interval estimate of the proportion of households which prefer the new packages; she will accept a 0.05 error. Previous studies indicate that new packaging has an approximately 70% acceptance rate. The sample size should be at least _______.
    323
    27
    427
    59

    2. Financial analyst Larry Potts needs a sample of 100 securities listed on either the New York Stock Exchange (NYSE) or the American Stock Exchange (AMEX). According to the Wall Street Journal's "Stock Market Data Bank," 2,531 NYSE securities and AMEX 746 securities were traded on the previous business day. Larry directs his staff to randomly select 77 NYSE and 23 AMEX securities. His sample is a ____________.

    disproportionate systematic sample
    proportionate stratified sample
    disproportionate stratified sample
    proportionate systematic sample

    3. Which types of data are normally used with parametric statistics?
    interval and ordinal
    ratio and ordinal
    nominal and ordinal
    interval and ratio

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    Solution Preview

    1. Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package. She plans to use a 80% confidence interval estimate of the proportion of households which prefer the new packages; she will accept a 0.05 error. Previous studies indicate that new packaging has an approximately 70% acceptance rate. The sample size should be at least _______.
    323
    27
    427
    59

    Answer: The sample size is 138
    (Please check the values given in the problem; there appears to be an error as the answer is not matching any of the answers given)

    No of tails= 2
    This is a 2 tailed test
    as we are checking the accuracy of plus minus 5% or 0.05

    confidence interval= 80%
    Z ...

    Solution Summary

    Answers multiple choice questions on Sample Type, Sample Size, Type of Data

    $2.19

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