Business Research Methods Problem
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Suppose that a business researcher is attempting to estimate the amount that members of a target segment spend annually on detergent and wants to use a Z-value of 1.96. If past research studies with this target market segment have shown that the standard deviation for this type of study was approximately $3.12, approximately what sample size should the researcher use?
a) 43
b) 87
c) 59
d) None of the above
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A critical component of sample size formulas is the estimation of variance in the primary variables of interest in the study. we should use Var=Square(Standard deviation ) = (3.12)^2= 9.73 in this question.
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<br>However, some other important variables are ...
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