In Exercise 9.65, suppose that (unknown to the dealers) the actual population proportion is really 0.35. If they use their estimated value (π ≤ 0.15) in determining the sample size and then conduct the study, will their maximum likely error be greater than, equal to, or less than 0.02? Why?
In exercise
The Chevrolet dealers of a large county are conducting a study to determine the proportion of car owners in the county who are considering the purchase of a new car within the next year. If the population proportion is believed to be no more than 0.15, how many owners must be included in a simple random sample if the dealers want to be 90% confident that the maximum likely error will be no more than 0.02?