Problem:You have been assigned to determine whether more people prefer Coke or Pepsi. Assume that roughly half the population prefers Coke and half prefers Pepsi. How large a sample do you need to take to ensure that you can estimate, with 90% confidence, the proportion of people preferring Coke to within 5% of the actual value? Show all of your work.

In your Excel spreadsheet,

• Identify the sample size.
• Utilize the support tool of Excel.
• Present any equations utilized.

Along with your calculations, submit your explanation of what your answer means to a decision maker in the organization.

Do not focus on the step by step method you used to arrive at the answer. Focus on the importance of the outcome and your actionable recommendations to the company.