Toyota provides an option of a sunroof and side air bag package for its Corolla model. This package costs $1400 ($1159 invoice price). Assume that prior to offering this option package, Toyota wants to determine the percentage of Corolla buyers who would pay $1400 extra for the sunroof and side air bags. How many Corolla buys must be surveyed if we want to be 95% confident that the sample percentage is within four percentage points of the true percentage for all Corolla buyers?
Statistics: Sample size for 95% confidence level; confidence interval. ... First, k is calculated as the population size divided by the sample size. ...
... Please see the attachments. The solution provides step by step method for the calculation of testing of hypothesis, confidence interval and sample size. ...
... Basically, when a sample was taken, the sample size n minus 1 is the degree of freedom. ... No, both sample sizes don't have to be the same size. ...
Inferences based on Single Samples. A consumer protection group is concerned that a ketchup manufacturer is filling its 20-ounce family-size containers with ...
... a.) narrower for 99% confidence than for 95% confidence. b.) wider for a sample size of 100 than for a sample size of 50. ... a.) increase the sample size to 200. ...
... Determining Sample Size. In Exercises 25-28, use the given data to find the minimum sample size required to estimate a population proportion or percentage. ...
