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Author Question: Suppose you wanted to estimate a binomial proportion, p, correct to within .03 with probability ... (Read 52 times)

geoffrey

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on: Feb 14, 2020

Question 1

A local men's clothing store is being sold. The buyers are trying to estimate the percentage of items that are outdated. They will choose a random sample from the 100,000 items in the store's inventory in order to determine the proportion of merchandise that is outdated. The current owners have never determined the percentage of outdated merchandise and cannot help the buyers. How large a sample do the buyers need in order to be 95% confident that the margin of error of their estimate is within 3%?

Question 2

Suppose you wanted to estimate a binomial proportion, p, correct to within .03 with probability 0.90. What size sample would need to be selected if p is known to be approximately 0.7?
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by geoffrey on Feb 14, 2020

milbourne11

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Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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geoffrey

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Reply 2 on: Feb 14, 2020
:D TYSM

LVPMS

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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