Chapter 8, Problem 45PS

What does brand loyalty mean to consumers? According to a Rate research report, 20% of consumers associate trust with brand loyalty.

a. To Conduct a follow-up study that would provide $95\%$ confidence that the point estimate is correct to within $\pm 0.04$ of the population, how large a sample size is required?

b. To Conduct a follow-up study that would provide $99\%$ confidence that the point estimate is correct to within $\pm 0.04$ of the population, how large a sample size is required?

c. To Conduct a follow-up study that would provide $95\%$ confidence that the point estimate is correct to within $\pm 0.02$ of the population, how large a sample size is required?

d. a. To Conduct a follow-up study that would provide $99\%$ confidence that the point estimate is correct to within $\pm 0.02$ of the population, how large a sample size is required?

e. Discuss the effects on sample size requirements of changing the desired confidence level and the acceptable sampling error.