Question: Using the confidence interval approach, determine the sample size required for the following scenario: A cosmetic company is conducting research to determine the best medium

Using the confidence interval approach, determine the sample size required for the following scenario: A cosmetic company is conducting research to determine the best medium to air their advertising. The local region they are interested in has a female population (their target market) of 15,000. They would like to run a study to determine how many minutes of television per day that females in this region typically watch. A study conducted for a similar region in another part of the country found that females watch 240 minutes per day, with a standard deviation of 40. They would like to run a study using a confidence interval of 90% and with an accuracy value of 5. 

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Marketing Questions!