Solution-Population proportion of financial institutions

Population proportion of financial institutions

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Reference no: EM132166949

According to a? study, 66?%of financial institutions use churn rate? (attrition) to gauge the effectiveness of their marketing efforts.

a. If you conduct a? follow-up study to estimate the population proportion of financial institutions that use churn rate to gauge the effectiveness of their marketing? efforts, would you use a π of 0.66 or 0.50 in the sample size? formula?

A. Use π =0.50 because this value will produce the greater sample size.

B. Use π =0.66 because this value will produce the greater sample size.

C. Use π =0.50 because this value is an educated estimate of π.

D. Use π =0.66 because this value is an educated estimate of π.

b. Using your answer to? (a), find the sample size necessary to? estimate, with 95% confidence, the population proportion to within ±0.07.

The sample size needed is __________. Round to the nearest integer.

Reference no: EM132166949

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Population proportion of financial institutions

Reference no: EM132166949

Reference no: EM132166949

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