You are interested in polling U.S. employees to see what proportion "play hooky", that is, call in sick at least once a year when they simply need time to relax. Obtain a sample size that will ensure a margin of error of at most 0.01 for a 99% confidence interval.
Confidence level = nothing
target proportion = nothing
width = nothing
n = nothing
Solution :
Given that,
= 1 - = 0.5
margin of error = E = 0.01
At 99% confidence level the z is ,
= 1 - 99% = 1 - 0.99 = 0.01
/ 2 = 0.01 / 2 = 0.005
Z/2 = Z 0.005 = 2.576
sample size = n = (Z / 2 / E )2 * * (1 - )
= (2.576 / 0.01)2 * 0.5 * 0.5
= 16589
sample size = 16589
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