8. Suppose that a nationwide manufacturing company that custom builds stainless steel tool cribs have engaged a
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8. Suppose that a nationwide manufacturing company that custom builds stainless steel tool cribs have engaged a marketing consultant to conduct a national opinion survey to determine the percent of the population who favor the manufacturing company's custom builds stainless steel tool cribs over their competitor's "off the shelf" standard tool cribs. The marketing consultant will conduct a random survey of public opinion for $1.65 per interview. How much will the survey cost the manufacturing company if the marketing firm insists that 95% of the time the margin of error be less than 5%? Also, assume that the manufacturing company's percent market share of the population is unknown as a conservative measure.
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