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charle [14.2K]
2 years ago
14

John runs a computer software store. He counted 122 people who walked by his store in a day, 60 of whom came into the stores. Of

the 60, only 23 bought something in
the store. Estimate the probability that a person who walks by the store will enter the store?
Mathematics
1 answer:
ozzi2 years ago
5 0

Answer:

unlikely

Step-by-step explanation:

60/122

60 ÷122=0.49

0.49 × 100 =49

49% chance

answer is unlikely

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Answer:

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Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of \pi, and a confidence level of 1-\alpha, we have the following confidence interval of proportions.

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In which

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The margin of error is:

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For this problem, we have that:

We dont know the true proportion, so we use \pi = 0.5, which is when we are are going to need the largest sample size.

95% confidence level

So \alpha = 0.05, z is the value of Z that has a pvalue of 1 - \frac{0.05}{2} = 0.975, so Z = 1.96.

a. If a 95% confidence interval with a margin of error of no more than 0.04 is desired, give a close estimate of the minimum sample size that will guarantee that the desired margin of error is achieved. (Remember to round up any result, if necessary.)

This is n for which M = 0.04. So

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0.04 = 1.96\sqrt{\frac{0.5*0.5}{n}}

0.04\sqrt{n} = 1.96*0.5

\sqrt{n} = \frac{1.96*0.5}{0.04}

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Rounding up

The minimum sample size is 601.

b. If a 95% confidence interval with a margin of error of no more than 0.02 is desired, give a close estimate of the minimum sample size necessary to achieve the desired margin of error.

Now we want n for which M = 0.02. So

M = z\sqrt{\frac{\pi(1-\pi)}{n}}

0.02 = 1.96\sqrt{\frac{0.5*0.5}{n}}

0.02\sqrt{n} = 1.96*0.5

\sqrt{n} = \frac{1.96*0.5}{0.02}

(\sqrt{n})^2 = (\frac{1.96*0.5}{0.02})^2

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Answer:

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Step-by-step explanation:

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