What prevents consumers from sharing data with retailers? A recent Click Fo X-bar Consumer Behavior Survey (bit.ly/ 1fAfJAI) found that 32% of consumers responded “breaches of consumer data.” 

a. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within; 0.03 of the population proportion, how many consumers need to be ­sampled?

b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within; 0.05 of the population proportion, how many consumers need to be ­sampled?

c. Compare the results of (a) and (b).