In recent times, the percent of buyers purchasing a new vehicle via the Internet has been large
Question:
In recent times, the percent of buyers purchasing a new vehicle via the Internet has been large enough that local automobile dealers are concerned about its impact on their business. The information needed is an estimate of the proportion of purchases via the Internet. How large of a sample of purchasers is necessary for the estimate to be within 2 percentage points with a 98% level of confidence? Current thinking is that about 8% of the vehicles are purchased via the Internet.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-1259666360
17th edition
Authors: Douglas A. Lind, William G Marchal
Question Posted: