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Past surveys revealed that 30 percent of the tourists going to Atlantic City to gamble during a weekend spent more than $1,000. Management wants to update thatpercentage.

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a. Using the .90 degree of confidence, management
wants to estimate the percentage of the tourists
spending more than $1,000 within 1 percent. What
sample size should be employed?
b. Management said that the sample size suggested in
part a is much too large. Suggest something that
could be done to reduce the sample size. Based on
your suggestion, recalculate the sample size.

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Solution Summary

The expert uses the .90 degree of confidence, management
wants to estimate the percentage of the tourists
spending more than $1,000 within 1 percent. What
sample size should be employed?

Solution Preview

a. Sample size - proportion

0.01 E, error tolerance
0.3 estimated population ...

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