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Statistics / Fundamentals of Statistics 4 / Chapter 9.1 / Problem 35AYU

Fundamentals of Statistics | 4th Edition | ISBN: 9780321838704 | Authors: Michael Sullivan,III

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A Penny for Your Thoughts A researcher for the U.S.

Chapter 5, Problem 35AYU

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QUESTION:

Problem 35AYU

A Penny for Your Thoughts A researcher for the U.S. Department of the Treasury wishes to estimate the percentage of Americans who support abolishing the penny. What size sample should be obtained if he wishes the estimate to be within 2 percentage points with 98% confidence if

(a) he uses a 2006 estimate of 15% obtained from a Coinstar National Currency Poll?

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QUESTION:

Problem 35AYU

A Penny for Your Thoughts A researcher for the U.S. Department of the Treasury wishes to estimate the percentage of Americans who support abolishing the penny. What size sample should be obtained if he wishes the estimate to be within 2 percentage points with 98% confidence if

(a) he uses a 2006 estimate of 15% obtained from a Coinstar National Currency Poll?

ANSWER:

Answer:

Step 1

The sample size required to obtain a confidence interval for with a margin of error is given by

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