Question

1.You wish to learn the proportion of MBA students that are female within 3%, and with 98% confidence. How large of a sample should you get?

2. Statistics

Answer 1

Solution:

Given that,

= 0.5

1 - = 1 - 0.5 = 0.5

margin of error = E = 3% = 0.03

At 98% confidence level the z is ,

= 1 - 98% = 1 - 0.98 = 0.02

/ 2 = 0.02 / 2 = 0.01

Z_/2 = Z_0.01 = 2.326

Sample size = n = ((Z _{/ 2}) / E)² * * (1 - )

= (2.326 / 0.03)² * 0.5 * 0.5

=1503

n = sample size = 1503