How many owners must be included in a simple random sample

Assignment Help Basic Statistics

Reference no: EM131405241

The Chevrolet dealers of a large county are conducting a study to determine the proportion of car owners in the county who are considering the purchase of a new car within the next year.

If the population proportion is believed to be no more than 0.15, how many owners must be included in a simple random sample if the dealers want to be 90% confident that the maximum likely error will be no more than 0.02?

Reference no: EM131405241

Questions Cloud

How large a simple random sample is required : To have 95% confidence that the sample percentage will be within 3 percentage points of the actual population percentage, how large a simple random sample is required?

Determining the company management style : Evaluate two (2) key changes in the selected company's management style from the company's inception to the current day. Indicate whether or not you believe the company is properly managed. Provide support for your position.

What effect does use of given estimate have on sample size : Do you think the population proportion could really be as high as 0.5? If not, repeat part (a) using an estimated proportion that you think would be more likely to be true. What effect does your use of this estimate have on the sample size?

Discuss which rate is actually the cheapest rate : Discuss which rate is actually the cheapest rate. What are 2 things about the sample Web site given above that could be applicable to a consumer or investor?

How many owners must be included in a simple random sample : If the population proportion is believed to be no more than 0.15, how many owners must be included in a simple random sample if the dealers want to be 90% confident that the maximum likely error will be no more than 0.02?

What sample size was used : In reporting the results of their survey of a simple random sample of U.S. registered voters, pollsters claim 95% confidence that their sampling error is no more than 4 percentage points. Given this information only, what sample size was used?

What is weight of preferred stock in firms capital structure : What is the weight of debt in the firm's capital structure? What is the weight of preferred stock in the firm's capital structure? What is the weight of common stock in the firm's capital structure?

Handling labor relations : How are multinational companies (MNC) that are huge into manufacturing such as Toyota currently handling labor relations amongst their employees from all parts of the world?

What effect will the finite population correction tend : What effect will the finite population correction tend to have on the width of a confidence interval?- the required size of a sample?

User Account

All Pages