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Obtain a sample size that will ensure a margin of error of at most the one specified.

Margin of error=0.03

Confidence level=99%

Short Answer

Expert verified

The required sample size is1842.

Step by step solution

01

Given information

The given data is

Margin of error=0.03

Confidence level=99%

02

Explanation

Margin of error=0.03

Confidence level =99%

When the margin of error is 0.03and the confidence level is 99%, calculate the sample size.

With a 99%confidence level, the required value of za2from table areas under the standard normal curve is 2.575.

The sample is

n=0.25zα¯2E22

=0.252.5750.032

=0.25(7,367.361)

=1,841.84

≈1842.

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Margin of error =0.01

Confidence level=95%

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(b). Compare your answer to the corresponding one and explain the reason for the difference, if any.

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