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of 1,000,000 potential customers.  Your marketing department has segmented/stratified this market as follows: 400,000 are college graduates. 100,000 have graduate degrees. 300,000 have some college credits. 200,000 have high school diplomas.   Your company wants to take a proportional stratified probability sample to assess the percentage of people who will favor a certain issue. You have no idea what this percentage might actually be. Furthermore, you want to measure this percentage with 95% confidence and a margin of error of 7%. Answer the following: How many total samples should be selected? What should be the consideration in deciding to select a stratified

of 1,000,000 potential customers.  Your marketing department has segmented/stratified this market as follows: 400,000 are college graduates. 100,000 have graduate degrees. 300,000 have some college credits. 200,000 have high school diplomas.   Your company wants to take a proportional stratified probability sample to assess the percentage of people who will favor a certain issue. You have no idea what this percentage might actually be. Furthermore, you want to measure this percentage with 95% confidence and a margin of error of 7%. Answer the following: How many total samples should be selected? What should be the consideration in deciding to select a stratified

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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  1. Your population is comprised of 1,000,000 potential customers.  Your marketing department has segmented/stratified this market as follows:
  2. 400,000 are college graduates.
  3. 100,000 have graduate degrees.
  4. 300,000 have some college credits.
  5. 200,000 have high school diplomas.

 

Your company wants to take a proportional stratified probability sample to assess the percentage of people who will favor a certain issue. You have no idea what this percentage might actually be. Furthermore, you want to measure this percentage with 95% confidence and a margin of error of 7%. Answer the following:

  1. How many total samples should be selected?
  2. What should be the consideration in deciding to select a stratified

       sample?

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