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Simple random sample of consumers

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Your supervisor comes to you and says she would like a marketing research study. She says there is a budget of $30,000. She would like to conduct a simple random sample of consumers interested in using the services of the company. She thinks that a sample of 750 would be plenty.

a. Given a confidence level of 95%, and a sample statistic of .50, what will be the MOE for a study of this type?

b. If the CPI is $15.75 per completed interview, can this study be done within the given budget?

c. How much more or less sample might you need to spend the entire budget?

d. What will be the MOE for that study (the one that uses the entire budget)?

Reference no: EM132148076

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