Question: SUBJECT: RESEARCH METHODS IN MARKETING Question 2 (20 points): The management of a local restaurant wants to conduct a survey to determine the effectiveness of

SUBJECT: RESEARCH METHODS IN MARKETING

Question 2 (20 points): The management of a local restaurant wants to conduct a survey to determine the effectiveness of price promotion for a new menu. The research agency thinks that this figure is as high as 70 percent. Management would like a 95% confidence interval and a margin of error no greater than plus or minimumn 2 percent. a. What sample size should be used for this study? (10 points) b. Suppose that management wanted to be 99% confident but could tolerate an error of plus or minus 3 percent. How would the sample size change? (10 points)

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