It is believed that large doses of acetaminophen (the active ingredient in over the counter pain relievers like Tylenol) may cause damage to the liver. A researcher wants to conduct a study to estimate the proportion of acetaminophen users who have liver damage. For participating in this study, he will pay each subject $20 and provide a free medical consultation if the patient has liver damage.   a) If he wants to limit the margin of error of his 95% confidence interval to 1%, what is the minimum amount of money he needs to set aside to pay his subjects?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter12: Angle Relationships And Transformations
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It is believed that large doses of acetaminophen (the active ingredient in over the counter pain relievers like Tylenol) may cause damage to the liver. A researcher wants to conduct a study to estimate the proportion of acetaminophen users who have liver damage. For participating in this study, he will pay each subject $20 and provide a free medical consultation if the patient has liver damage.

 

a) If he wants to limit the margin of error of his 95% confidence interval to 1%, what is the minimum amount of money he needs to set aside to pay his subjects?

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