Normal Distribution and Significance Levels True of False
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True or false:
A retailer wants to estimate with 99% confidence the number of people who buy at his store. A previous study showed that 15% of those interviewed had shopped at his store. He wishes to be accurate within 3% of the true proportion. The minimum sample size necessary would be 940.
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Solution Summary
The normal distribution and significance levels are examined. The minimum sample size which is necessary are determined. The solution answers the question(s) below.
Solution Preview
The statement is false. To get the minimum sample size we could use the following formula:
n = ((p*(1-p)*z)/m)^2
Where 'n' is the required ...
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