statistical sampling problem
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Suppose you have reduced a sample to 1,000 out of a population of 4,000. With a favorable response of 30%, a sampling error of 3%, and a 95% confidence level, what would be the corrected response?
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Solution to the problem: suppose you have reduced a sample to 1,000 out of a population of 4,000. With a favorable response of 30%, a sampling error of 3%, and a 95% confidence level, what would be the corrected response?
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1000 responded. 30% of those responded positively, now we have 300 (1000 X .30). We have a sampling error of plus or minus 3%. So, we have a range of plus or minus 9 (300 X .03). Next, we are 95% ...
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