Which is a better buy? 3-pound bag of candy for $6.04 or 9-pound bag of candy for $18.45?
2 answers:
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Answer:
The company should take a sample of 148 boxes.
Step-by-step explanation:
Hello!
The cable TV company whats to know what sample size to take to estimate the proportion/percentage of cable boxes in use during an evening hour.
They estimated a "pilot" proportion of p'=0.20
And using a 90% confidence level the CI should have a margin of error of 2% (0.02).
The CI for the population proportion is made using an approximation of the standard normal distribution, and its structure is "point estimation" ± "margin of error"
[p' ± ]
Where
p' is the sample proportion/point estimator of the population proportion
is the margin of error (d) of the confidence interval.
So
n= 147.28 ≅ 148 boxes.
I hope it helps!