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  3. you work for a marketing firm that has a large cli

You work for a marketing firm that has a large client in the automobile industry. You...

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Statistics

You work for a marketing firm that has a large client in theautomobile industry. You have been asked to estimate the proportionof households in Chicago that have two or more vehicles. You havebeen assigned to gather a random sample that could be used toestimate this proportion to within a 0.035 margin of error at a 95%level of confidence

. a) With no prior research, what sample size should you gatherin order to obtain a 0.035 margin of error?

b) Your firm has decided that your plan is too expensive, andthey wish to reduce the sample size required. You conduct a smallpreliminary sample, and you obtain a sample proportion of ˆ p =0.19 . Using this new information. what sample size should yougather in order to obtain a 0.035 margin of error?

Answer & Explanation Solved by verified expert
4.4 Ratings (887 Votes)
SolutionaGiven that 051 05margin of error E 0035At 95 confidence level    See Answer
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