This Quiz: 250 pts possi 24 of 31 complete) This Question: 8 A eacher wires conf

Question

This Quiz: 250 pts possi 24 of 31 complete) This Question: 8 A eacher wires confidence, the populatian poponon otadtts who are corfdent with their country's banking system His estimate must be acome within 4Nel the population popohon. (ANe preininary estimate aalbe Findthe minmum sample size needed Fed the minimum sample size needed oningapirstady that undsat 36% of the respondents said they are condent wth ther corry bankrg system. is available? al What sthe minimam sampe size needed assumrg that priat intormation Whatis meimm size tended using a prior study tund that 35% of ne responderts said they are confident wth their countrys banking system? a Haing an esimale

Explanation / Answer

(a) What is the minimum sample size needed assuming that no prior information is avaliable?

Ans:n=(2.5758/0.04)2*(1/2)(1/2)

         =1036.67

(b )What is the minimum sample size needed using a prior study that found that 35% of the respondents said they are confident with their country's banking system?

Ans:n=(Z/E)2pq

          =(2.5758/0.04)2(0.35)(0.65)

           =943.377

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