Purchase Solution

What is the sample size required for a survey of shoppers who use credit cards?

Not what you're looking for?

Ask Custom Question

A survey of shoppers is planned to determine what percentage use credit cards. Prior surveys suggest that 59% use credit cards. The required margin of error is 0.02 at 95% confidence. What is the minimum sample size required to assure that your sample proportion "p" will be within the required margin of error around the population proportion "p."

Use the traditional methods for testing hypotheses and show the results of all steps in the process.

Purchase this Solution
Solution Summary

This solution provides calculations for the sample size, confidence interval and range.

Solution Preview

Sample Size = (2^2*Z^2* p^.5 *(1-p)^.5)/L^2
Z= 1.65 ( FROM NORMAL Table for 95% confidence interval)
p= ...

Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

View More Free Quizzes
Related BrainMass Solutions

  • Finding Minimum Sample Size

    3326 Finding Minimum Sample Size A survey of shoppers is planned to determine what percentage use credit cards. Prior surveys suggest that 59% use credit cards. The required margin of error is 0.02 at 95% confidence.

  • Sample size and confidence interval calculation

    a) What is your best estimate of the proportion of households throughout the Research Triangle Area who use cents-off coupons when grocery shopping?

  • Business Analysis Problem: Required Sample Size

    In the case at hand, it is the percentage of the population who are cardholders, and from them, the percentage of those who have a disposable income that will be used for consumption/purchase through the use of credit cards. 3.

  • Statistics Problem Set: Scanning Errors at Wal-Mart

    Funds are available 5.64 The required Sample Size is 246. 5.66 a. 90% b. 0.05 c. The required sample size is 260. 5.68 The required sample size is 126.

  • Hypothesis, ANOVA

    A random sample of 18 stores is selected, with 6 stores randomly assigned to each aisle location. The size of the display area and price of the product are constant for all stores.

  • Point Estimate and Confidence Interval

    Store's Card Major Credit Card Sample size 64 49 Sample mean $140 $125 Population standard deviation $10 $8 a)A point estimate for the difference between the mean purchases of the users of the two credit cards is b) At 95% confidence,

  • Simple Probability of Survey Results

    List the sample space of rolling a 6 sided die. (Points: 4) 7. What is the probability of choosing a queen from a deck of 52 cards? What is the probability of the 2nd card being a queen if the first was a queen?

  • Sample size for estimating a population proportion

    248972 Sample size for estimating a population proportion The manager of a department store wants to determine what proportion of people who enter the store use the store's credit cards for their purchases.

  • Confidence Interval and Hypothesis Testing using Chi-square

    Penney, 10 Kohl's, 21 mail order, and 39 other outlet shoppers. Does this sample suggest that women shoppers in Atlanta differ from the shopping preferences expressed in the U.S. Shoppers Database? What is the p-value? Use a = 0.05.

View More Related Solutions