What is the 15% service tip on a $25.50 dinner in a restraunt

In a survey, the planning value for the population proportion is p* = 0.35. How large a sample should be taken to provide a 95%

lions [1.4K]

Answer:

$n=\frac{0.35(1-0.35)}{(\frac{0.05}{1.96})^2}=349.59$

And rounded up we have that n=350

Step-by-step explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

$p$ represent the real population proportion of interest

$\aht p$ represent the estimated proportion for the sample

n is the sample size required (variable of interest)

$z$ represent the critical value for the margin of error

Solution to the problem

The population proportion have the following distribution

$p \sim N(p,\sqrt{\frac{\hat p(1-\hat p)}{n}})$

In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by $\alpha=1-0.95=0.05$ and $\alpha/2 =0.025$ . And the critical value would be given by:

$z_{\alpha/2}=-1.96, z_{1-\alpha/2}=1.96$

The margin of error for the proportion interval is given by this formula:

$ME=z_{\alpha/2}\sqrt{\frac{\hat p (1-\hat p)}{n}}$ (a)

And on this case we have that $ME =\pm 0.05$ and we are interested in order to find the value of n, if we solve n from equation (a) we got:

$n=\frac{\hat p (1-\hat p)}{(\frac{ME}{z})^2}$ (b)

And replacing into equation (b) the values from part a we got:

$n=\frac{0.35(1-0.35)}{(\frac{0.05}{1.96})^2}=349.59$

And rounded up we have that n=350

6 0

2 years ago

Not all visitors to a certain company's website are customers. In fact, the website administrator estimates that about 5% of all

Gnom [1K]

Answer:

0.0135 = 1.35% probability that, in a random sample of 4 visitors to the website, exactly 2 actually are looking for the website.

Step-by-step explanation:

For each visitor of the website, there are only two possible outcomes. Either they are looking for the website, or they are not. The probability of a customer being looking for the website is independent of other customers. This means that the binomial probability distribution is used to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$