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October 26, 2014

October 26, 2014

Posted by **Tesa** on Thursday, July 11, 2013 at 3:08am.

- Business Statistics -
**MathGuru**, Friday, July 12, 2013 at 5:12pmTry this formula:

n = [(z-value)^2 * p * q]/E^2

= [(2.33)^2 * .5 * .5]/.03^2

I'll let you finish the calculation.

Note: n = sample size needed; .5 (if no value is stated in the problem) for p and .5 (which is 1 - p) for q. E = maximum error, which is .03 (3%) in the problem. Z-value is found using a z-table (for 98%, the value is approximately 2.33). Symbols: * means to multiply and ^2 means squared.

I hope this will help get you started.

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