A prize is divided in the ratio 5:1 if the larger share is £65 what is the total prize?
2 answers:
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Answer:
n≅376
So sample size is 376.
Step-by-step explanation:
The formula we are going to use is:
where:
n is the sample size
p is the probability of favor
q is the probability of not in favor
E is the Margin of error
z is the distribution
α=1-0.98=0.02
α/2=0.01
From cumulative standard Normal Distribution
p is taken 0.5 for least biased estimate, q=1-p=0.5
n≅376
So sample size is 376