In Q1 the team needs to buy market research. Without that data you will not be...
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In Q1 the team needs to buy market research. Without that data you will not be able to play the game. You have the choice to buy a sample size of 100 up to 1000. However, the optimal sample size is something in between these two extremes. The correct sample size is related to the bell shaped curve and the fact that 95% of the data fall between two standard deviations from the mean (the p value is .05). What is the optimal sample size? In Q1 the team needs to buy market research. Without that data you will not be able to play the game. You have the choice to buy a sample size of 100 up to 1000. However, the optimal sample size is something in between these two extremes. The correct sample size is related to the bell shaped curve and the fact that 95% of the data fall between two standard deviations from the mean (the p value is .05). What is the optimal sample size?
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To determine the optimal sample size we need to consider the margin of error and the confidence leve... View the full answer
Related Book For
Research Methods For Business Students
ISBN: 9781292208787
8th Edition
Authors: Mark Saunders, Philip Lewis, Adrian Thornhill
Posted Date:
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