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A group of marketing students at a large university wants to determine the proportion of first year students who use certain types of social media. The students want their estimate to be within 0.03 of the true proportion with a 95% level of confidence. Two years ago, a similar study determined the proportion to be 0.796. How large of a sample is required

Respuesta :

The required sample size is 694.

Given a student wants to make a guess within 0.03 of the true ratio with a 95% confidence level.

Margin of Error, E = 0.03

significance level α=0.05  {95% confidence}

A given estimate of the percentage of population p is p = 0.79.

The critical value for the significance level α = 0.05 is Zc = 1.96. This can be determined using either Excel or a normal probability table.

Use the following formula to calculate the minimum sample size required to estimate the percentage of population p within the required margin of error.

n≥p(1-p)(Zc÷E)²

n=0.796×(1-0.796)(1.96÷0.03)²

n=693.1016

Therefore, the  resample sizequired to meet the condition is n ≥ 693.1016 and must be an integer. From this, we conclude that the minimum sample size required is n = 694.

Learn more about confidence level from here brainly.com/question/23630128

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