Question

Apple launches an ad campaign for iPhone 12. Managers want to know what is the % of social media mentions that have positive reactions to the new ad campaign. How many social media mentions do managers at Apple need to collect, if they want to get a margin of error of 2% (ME=0.02)?

Answer 1

Answer:

social media mentions do managers at Apple need to collect, if they want to get a margin of error of 2%

Sample size 'n' = 625

Step-by-step explanation:

Step(i):-

Given data Apple launches an ad campaign for iPhone 12

Managers want to know what is the % of social media mentions that have positive reactions to the new ad campaign

probability of positive reactions p = 1/2

Probability of negative reactions q = 1-p = 1/2

we know that $\sqrt{p(1-p}\leq \frac{1}{2}$

Step(ii):-

Given margin of error  = 2 % =0.02

The margin of error is determined by

          $M.E = \frac{\sqrt{p(1-p} }{\sqrt{n} }$

         $0.02 = \frac{\frac{1}{2} }{\sqrt{n} }$

        $\sqrt{n} =\frac{1}{2 X0.02}$

        √n = 25

squaring on both sides, we get

       n = 625