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The Curdle Dairy Co.wants to estimate the proportion p of customers that will purchase its new...

The Curdle Dairy Co.wants to estimate the proportion p of customers that will purchase its new broccoli-flavored ice cream. Curdle wants to be 92% confident that they have estimated p to within .05. How many customers should they sample?

Math   Statistics-And-Probability   
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Answer #1

Solution,

Given that,

=  1 - = 0.5  

margin of error = E = 0.05

At 92% confidence level

= 1 - 92%

= 1 - 0.92 =0.08

/2 = 0.04

Z/2 = Z0.04 = 1.75

sample size = n = (Z / 2 / E )2 * * (1 - )

= (1.75 /0.05 )2 * 0.5 * 0.5

= 306.25

sample size = n = 307

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