A researcher wishes to estimate, with 99% confidence, the population proportion of adults who are confident with their country's banking system. His estimate must be accurate within 3% of the population proportion. (a) No preliminary estimate is available. Find the minimum sample size needed. (b) Find the minimum sample size needed, using a prior study that found that 25% of the respondents said they are confident with their country's banking system. (c) Compare the results from parts (a) and (b). (a) What is the minimum sample size needed assuming that no prior information is available? n= (Round up to the nearest whole number as needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 5E
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A researcher wishes to estimate, with 99% confidence, the population proportion of adults who are confident with their
country's banking system. His estimate must be accurate within 3% of the population proportion.
(a) No preliminary estimate is available. Find the minimum sample size needed.
(b) Find the minimum sample size needed, using a prior study that found that 25% of the respondents said they are confident
with their country's banking system.
(c) Compare the results from parts (a) and (b).
(a) What is the minimum sample size needed assuming that no prior information is available?
(Round up to the nearest whole number as needed.)
n=
Transcribed Image Text:A researcher wishes to estimate, with 99% confidence, the population proportion of adults who are confident with their country's banking system. His estimate must be accurate within 3% of the population proportion. (a) No preliminary estimate is available. Find the minimum sample size needed. (b) Find the minimum sample size needed, using a prior study that found that 25% of the respondents said they are confident with their country's banking system. (c) Compare the results from parts (a) and (b). (a) What is the minimum sample size needed assuming that no prior information is available? (Round up to the nearest whole number as needed.) n=
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