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1.) Mr. Wong is the sales manager for a confectionery manufacturer. In a survey of a random sample of 200 outlets in Northern China, he found that 50 would be willing to stock a proposed new product.
a.) Find a 95% confidence interval for the population proportion of outlets in Northern China which will stock this new product.
b.) Mr. Wong intends to conduct a similar survey in Southern China. He wishes to obtain a point estimate of the population proportion of outlets willing to stock the new product in Southern China. How large a sample size should be used if he wants to be at least 95% confident that his error of estimate does not exceed 0.04?
Answer for a and b are (0.19,0.31) and 601 respectively. What I want to know is the process on how this problem is solved. Please answer me with details. Also, if formulas are used, please tell me what the formulas are.
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