WILL MARK BRAINLIEST A bank manager wants to encourage new customers to open accounts with principals of at least $3,500. He de
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Answer:
He must survey 123 adults.
Step-by-step explanation:
In a sample with a number n of people surveyed with a probability of a success of , and a confidence level of
, we have the following confidence interval of proportions.
In which
z is the z-score that has a p-value of .
The margin of error is:
Assume that a recent survey suggests that about 87% of adults have heard of the brand.
This means that
90% confidence level
So , z is the value of Z that has a p-value of
, so
.
How many adults must he survey in order to be 90% confident that his estimate is within five percentage points of the true population percentage?
This is n for which M = 0.05. So
Rounding up:
He must survey 123 adults.