Land's Beginning is a company that sells its merchandise through the mail. It is considering buying a list of addresses from a magazine. The magazine claims that at least 25% of its subscribers have high incomes (they define this to be household income in excess of $100,000). Land's Beginning would like to estimate the proportion of high-income people on the list. Checking income is very difficult and expensive but another company offers this service. Land's Beginning will pay to find incomes for an SRS of people on the magazine's list.

Question

anonymous · Answer

They would like the margin of error of the 95% confidence interval for the proportion to be 0.05 or less. Use the guessed value p = 0.25 to find the required sample size.

anonymous · Answer

@Mertsj

mertsj · Answer

Don't know this one

anonymous · Answer

@ajprincess @bahrom7893 @UnkleRhaukus

bahrom7893 · Answer

@satellite73 would know this. Sorry, I'm horrible at stat.

anonymous · Answer

ok. hes offline

bahrom7893 · Answer

@Callisto can you help?

ajprincess · Answer

I am really sorry. I too am nt good in stats.:(

anonymous · Answer

@Callisto ?

callisto · Answer

I'm sorry that I can't help too :(

anonymous · Answer

@.Sam.  can u ? can anyone?

bahrom7893 · Answer

Try math.stackexchange.com, they'll be able to help for sure

anonymous · Answer

do u gyuys know this one?

anonymous · Answer

A student organization wants to start a nightclub for students under the age of 21. To assess support for this proposal, they will select an SRS of students and ask each respondent if he or she would patronize this type of establishment. They expect that about 60% of the student body would respond favorably. What sample size is required to obtain a 95% confidence interval with an approximate margin of error of 0.08? Suppose that 50% of the sample responds favorably. Calculate the margin of error of the 95% confidence interval.