# Question: 1 What is the required minimum sample size 2 The project

1. What is the required minimum sample size?

2. The project manager assigned to the survey is not sure about the actual proportion or about the 2% error limit. The proportion may be anywhere from 40% to 60%. Construct a table for the minimum sample size required with half-width ranging from 1% to 3% and actual proportion ranging from 40% to 60%.

3. Inspect the table produced in question 2 above. Comment on the relative sensitivity of the minimum sample size to the actual proportion and to the desired half-width.

4. At what value of the actual proportion is the required sample size the maximum?

5. The cost of polling includes a fixed cost of $425 and a variable cost of $1.20 per person sampled, thus the cost of sampling n voters is $(425 + 1.20n). Tabulate the cost for range of values as in question 2 above.

6. A competitor of the company that had announced results to within ± 3% with 95% confidence has started to announce results to within ± 2% with 95% confidence. The project manager wants to go one better by improving the company’s estimate to be within ± 1% with 95% confidence. What would you tell the manager?

A company wants to conduct a telephone survey of randomly selected voters to estimate the proportion of voters who favor a particular candidate in a presidential election, to within 2% error with 95% confidence. It is guessed that the proportion is 53%.

2. The project manager assigned to the survey is not sure about the actual proportion or about the 2% error limit. The proportion may be anywhere from 40% to 60%. Construct a table for the minimum sample size required with half-width ranging from 1% to 3% and actual proportion ranging from 40% to 60%.

3. Inspect the table produced in question 2 above. Comment on the relative sensitivity of the minimum sample size to the actual proportion and to the desired half-width.

4. At what value of the actual proportion is the required sample size the maximum?

5. The cost of polling includes a fixed cost of $425 and a variable cost of $1.20 per person sampled, thus the cost of sampling n voters is $(425 + 1.20n). Tabulate the cost for range of values as in question 2 above.

6. A competitor of the company that had announced results to within ± 3% with 95% confidence has started to announce results to within ± 2% with 95% confidence. The project manager wants to go one better by improving the company’s estimate to be within ± 1% with 95% confidence. What would you tell the manager?

A company wants to conduct a telephone survey of randomly selected voters to estimate the proportion of voters who favor a particular candidate in a presidential election, to within 2% error with 95% confidence. It is guessed that the proportion is 53%.

**View Solution:**## Answer to relevant Questions

1. What is the minimum sample size (of attempts) if the proportion is to be estimated within ± 2% with 95% confidence? What is the associated total cost? 2. What is the minimum sample size if the proportion is to be ...For each one of the following null hypotheses, determine if it is a left-tailed, a right-tailed, or a two-tailed test. a. μ ≥ 10. b. p ≤ 0.5. c. μ is at least 100. d. μ ≤ = – 20. e. p is exactly 0.22. f. μ is at ...According to Money, the average appreciation, in percent, for stocks has been 4.3% for the five-year period ending in May 2007. An analyst tests this claim by looking at a random sample of 50 stocks and finds a sample mean ...Suppose that the Goodyear Tire Company has historically held 42% of the market for automobile tires in the United States. Recent changes in company operations, especially its diversification to other areas of business, as ...Airplane tires are sensitive to the heat produced when the plane taxis along runways. A certain type of airplane tire used by Boeing is guaranteed to perform well at temperatures as high as 125°F. From time to time, Boeing ...Post your question