Business Statistics

posted by .

You wish to learn the proportion of MBA students that are female within 3%, and with 98% confidence. How large of a sample should you get?

  • Business Statistics -

    Try 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.

  • Business Statistics -

    1504

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Statistics

    How many students must we sample if we want to be within 4% of the true proportion of female students at DeVry University when using a 95% confidence interval?
  2. statistics

    How many students must we sample if we want to be within 4% of the true proportion of female students at DeVry University when using a 95% confidence interval?
  3. stats

    How many students must we sample if we want to be within 4% of the true proportion of female students at DeVry University when using a 95% confidence interval?
  4. college

    How many students must we sample if we want to be within 4% of the true proportion of female students at DeVry University when using a 95% confidence interval?
  5. Statistics

    How many students must we sample if we want to be within 4% of the true proportion of female students at DeVry University when using a 95% confidence interval?
  6. Bus 221, Devry

    How many students must we sample if we want to be within 4% of the true proportion of female students at DeVry University when using a 95% confidence interval?
  7. Statistics

    Find the minimum sample size that should be chosen to assure that the proportion estimate p will be within the required margin of error, .06. Use a 95% confidence interval and a population proportion of .7. The critical value for a …
  8. statistics

    How large a sample should be surveyed to estimate the true proportion of college students who do laundry once a week within 3% with 95% confidence?
  9. Business Statistics

    You wish to learn the average age of an MBA student within 2 years and with 99% confidence. How large of a sample should you get?
  10. Business statistics

    1. Suppose the estimate of a proportion of a normal population is to be within 0.05 using the 95% confidence level. How large a sample is required if: a. It is known from previous studies that p = 0.3?

More Similar Questions