Question
Answer please can simplify process A cable company is planning to offer an improved cable package...
answer please can simplify process
A cable company is planning to offer an improved cable package to its subscribers. Managers are trying to determine the proportion of customers who are likely to purchase the new package to within 5% of the true proportion and want to present their results in a 95% confidence interval. Last time they offered an improved package to their customers, a 95% confidence interval was calculated to be (0.54, 0.64). What is the minimum sample sized needed? A. 363 B. 385 C. 372 D. 382 E. 355
Answers
portion estimate is (0.54 + 0.64)/2
1.18/2
0.59
The sample size (n) is calculated according to the formula: n = z2 * p * (1 - p) / e2
Where: z = 1.96 for a confidence level (α) of 95%, p = proportion (expressed as a decimal), e = margin of error.
z = 1.96, p = 0.59, e = 0.05
n = 1.962 * 0.59 * (1 - 0.59) / 0.052
n = 0.9293 / 0.0025 = 371.713
n ≈ 372
The sample size is equal to 372option c
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