A marketing researcher is hired by a corporation to conduct a study and estimate the population mean for the attribute of interest using a 95% confidence interval with a maximum error of 3.5. It will cost the researcher $11 per sample to conduct the study and the researcher has been given a budget of $1,500 to conduct the study. Based on prior studies the researcher can estimate the standard deviation using, σ≈17�≈17. Step 1 of 3 : Calculate the minimum sample size needed for this study. Round your answer up to the nearest whole number.

A marketing researcher is hired by a corporation to conduct a study and estimate the population mean for the attribute of interest using a 95% confidence interval with a maximum error of 3.5. It will cost the researcher $11 per sample to conduct the study and the researcher has been given a budget of $1,500 to conduct the study. Based on prior studies the researcher can estimate the standard deviation using, σ≈17�≈17. Step 1 of 3 : Calculate the minimum sample size needed for this study. Round your answer up to the nearest whole number.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 13PPS

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Question

Step 1 of 3 :

Calculate the minimum sample size needed for this study. Round your answer up to the nearest whole number.

Definition Definition Number of subjects or observations included in a study. A large sample size typically provides more reliable results and better representation of the population. As sample size and width of confidence interval are inversely related, if the sample size is increased, the width of the confidence interval decreases.

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