Don tracked the price of gas for several months. In January gas cost $2.65, in February the price had risen $0.56, in March decr
1 answer:
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Answer:
a. 385
b. 342
Step-by-step explanation:
To solve the problem we do the following:
The equation to calculate the sample size is:
a)
We have the following data:
Since no estimate of proportion is given, we will assume: p = q = 0.5
We know that For 95% confidence, z = 1.96
Width = 0.10
Hence, the margin of error would be:
0.10 / 2 = 0.05
E = 0.05
And so we can calculate sample size:
n = 385
b)
We have the following data for this point:
p = 2/3
q = 1 - p
q = 1 - 2/3
q = 1/3
And so we can calculate sample size:
n = 342