For the following scenarios, please tell me what the minimum sample size needed is, rounded up...
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For the following scenarios, please tell me what the minimum sample size needed is, rounded up to the nearest integer (e.g., if your answer is 51.3, round it up to 52). Remember that you cannot survey a fraction of a person - it has to be a whole person. If you round down, then you won't have the minimum amount of precision needed, so you must round up. For the z-scores, refer to slide 9 from the chapter 16 lecture. You want to do a study to determine what percentage of the population does an annual check-up/physical at the doctors. You want your study to have 90% confidence with a margin of error of 4%, and based on a similar study last year, you think that the percentage will be around 80%. 1. What are the following, in the correct order: MoE, z, and o/? (Whether you use σ or л depends on whether you are calculating sample size for a mean or a proportion). 2. Based on your answers in question 1, calculate the minimum sample size needed. 3. Assume that you have never done a similar study and have no idea what the percentage will be for people doing an annual check-up. What value should you assume the percentage is if you need to calculate the minimum sample size needed? You want to estimate the percentage of households in the RGV that eat at a sit-down/table service restaurant per week. You want a margin of error of 10% and a confidence level of 99% (you don't care about having high confidence). You have no idea what the true percentage was in the past or around what it will be this year. 4. What are the following, in the correct order: MoE, z, and o/? 5. Using the numbers from question 4, please calculate the minimum sample size needed. 6. See what happens to the sample size when you decrease the confidence. Recalculate the minimum sample size using 95% confidence instead of 99%. 7. See what happens to the sample size when you increase (widen) the margin of error. Recalculate the minimum sample size using 20% margin of error instead of 10%, using 99% confidence. You want to do a study to estimate how many minutes (within ± 15 minutes) UTPA students spend on watching TV programs per week. You want to have a confidence level of 95%, and you estimate the standard deviation to be 60 minutes. 8. What are the following, in the correct order: MoE, z, and σ/л? (Whether you use σ or depends on whether you are calculating sample size for a mean or a proportion) 9. Based on your answers in question 8, calculate the minimum sample size needed. 10. If you want a larger margin of error (e.g., 20 minutes), will it increase or decrease the sample size? For the following scenarios, please tell me what the minimum sample size needed is, rounded up to the nearest integer (e.g., if your answer is 51.3, round it up to 52). Remember that you cannot survey a fraction of a person - it has to be a whole person. If you round down, then you won't have the minimum amount of precision needed, so you must round up. For the z-scores, refer to slide 9 from the chapter 16 lecture. You want to do a study to determine what percentage of the population does an annual check-up/physical at the doctors. You want your study to have 90% confidence with a margin of error of 4%, and based on a similar study last year, you think that the percentage will be around 80%. 1. What are the following, in the correct order: MoE, z, and o/? (Whether you use σ or л depends on whether you are calculating sample size for a mean or a proportion). 2. Based on your answers in question 1, calculate the minimum sample size needed. 3. Assume that you have never done a similar study and have no idea what the percentage will be for people doing an annual check-up. What value should you assume the percentage is if you need to calculate the minimum sample size needed? You want to estimate the percentage of households in the RGV that eat at a sit-down/table service restaurant per week. You want a margin of error of 10% and a confidence level of 99% (you don't care about having high confidence). You have no idea what the true percentage was in the past or around what it will be this year. 4. What are the following, in the correct order: MoE, z, and o/? 5. Using the numbers from question 4, please calculate the minimum sample size needed. 6. See what happens to the sample size when you decrease the confidence. Recalculate the minimum sample size using 95% confidence instead of 99%. 7. See what happens to the sample size when you increase (widen) the margin of error. Recalculate the minimum sample size using 20% margin of error instead of 10%, using 99% confidence. You want to do a study to estimate how many minutes (within ± 15 minutes) UTPA students spend on watching TV programs per week. You want to have a confidence level of 95%, and you estimate the standard deviation to be 60 minutes. 8. What are the following, in the correct order: MoE, z, and σ/л? (Whether you use σ or depends on whether you are calculating sample size for a mean or a proportion) 9. Based on your answers in question 8, calculate the minimum sample size needed. 10. If you want a larger margin of error (e.g., 20 minutes), will it increase or decrease the sample size?
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Related Book For
Corporate Finance
ISBN: 978-0077861759
10th edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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