Question: According to a study released by The Financial Brand, an online publication focusing on branding issues and advice affecting retail banks and credit unions, 68%

According to a study released by The Financial Brand, an online publication focusing on branding issues and advice affecting retail banks and credit unions, 68% of financial institutions use churn rate (attrition) to gauge the effectiveness of their marketing efforts.

a. If you conduct a follow- up study to estimate the population proportion of financial institutions that use churn rate to gauge the effectiveness of their marketing efforts, would you use a p of 0.68 or 0.50 in the sample size formula?

b. Using your answer in (a), find the sample size necessary to estimate, with 95% confidence, the population proportion to within ± 0.03.

Step by Step Solution

★★★★★

3.49 Rating (172 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a If you conducted a followup study yo... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

494-M-S-P-E (410).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

According to a study done at J.P. Morgan, as world trade has increased from about 12 percent of world output in the 1970s to about 25 percent of world output in the early 2000s, global differences in...

According to a study done by the Online Bookselling Center, the average delivery time for books purchased online and shipped via USPS first class mail is 3.65 days (onlinebookselling.net). Based on...

According to a study conducted by a major computer company, 59% of men and 70% of women say that weight is an extremely/very important factor in purchasing a laptop computer. Suppose this survey was...

According to a study released by The Financial Brand, an online publication focusing on branding issues and advice affecting retail banks and credit unions, 68% of financial institutions use churn...

CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING - FN540820 Page 1 UNIT 3 - COMPLY WITH FINANCIAL SERVICES REGULATION AND INDUSTRY CODES OF PRACTICE Unit Code: FNSFMK515 This unit describes the skills...

after reading the case "meridian credit union: taking on the big banks" . Explain in detail about the following 1. Porter'sfive forces model 2. SWOT Analysis 3. PEST Analysis 4. Business level...

1. Read sections I, II, IV, V, VI and VIII of the IDB document titled 'Financial Regulation in the English-Speaking Caribbean: Is it Helping or Hindering Microfinance?' which is located at...

1.Read sections I, II, IV, V, VI and VIII of the IDB document titled 'Financial Regulation in the English-Speaking Caribbean: Is it Helping or Hindering Microfinance?' which is located at...

CHAPTER 1 THE BUSINESS AND SOCIETY RELATIONSHIP BUSINESS & SOCIETY Title ISBN Business and Society Archie B. Carroll; Ann K. Buchholtz 978-1-285-73429-3 Publisher Cengage Learning Author FOCUS OF THE...

A project using passive heating/cooling design con- cepts to reduce energy costs requires an investment of $125,000 in equipment (straight-line deprecia- tion with a 10-year depreciable life and $0...

Two metal beams are joined together by four rivets, as the drawing indicates. Each rivet has a radius of 5.0 Ã 10-3 m and is to be exposed to a shearing stress of no more than 5.0 Ã 108...

Bay Breeze Beachwear Inc. ( BBB ) is a small business located in Santa Monica, California. It sells swimwear and related products to specialty stores throughout the United States. It also sells its...

THE PURPOSE OF LAW Identify three laws that have attracted media attention this week. For each law, identify what you believe to be the purpose or objective of the law.

The following data represents the pounds per capita of fresh food and packaged food consumed in the United States, Japan, and Russia in a recent year. a. For each of the three countries, construct a...

Bring to class a chart from a website, newspaper, or magazine published this month that you believe to be a poorly drawn representation of a categorical variable. Be prepared to submit the chart to...

The following table shown in the file TextbookCosts shows the breakdown of the costs of a typical college textbook. a. Using the categories of publisher, bookstore, and author, construct a bar chart,...

Assuming that the returns from holding small-company stocks are normally distributed. Assume the average annual return for holding the small-company stocks for a period of time was 18.4 percent and...

Given the following data set, show all work to calculate Q1, Q2, Q3, and the IQR. Use an appropriate calculation to determine if there are any outliers. [2K/2A] 31 22 21 21 20 20 21 20 32 28 32 29 35...

QUESTION 1 4 What did TARP, passed in October 2 0 0 8 , aim to do ? a . decrease liquidity b . increase the discount rate c . freeze financial flows d . unfreeze financial flows e . lower taxes