Posted: February 13th, 2017

Find the minimum sample size needed, using a prior study that found that 25%of the respondents said they are confident with their country’s banking system

A researcher wishes to estimate, with 95%confidence, the population proportion of adults who are confident with their country’s banking system. His estimate must be accurate within 33%of the population proportion. (a) No preliminary estimate is available. Find the minimum sample size needed. (b) Find the minimum sample size needed, using a prior study that found that 25%of the respondents said they are confident with their country’s banking system. (c)Compare the results from parts (a)and (b).