Raisel is the new statistician at a cola company. She wants to estimate the proportion of the population who enjoy their latest idea for a flavour enough to make it a successful product. Raisel wants...

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Raisel is the new statistician at a cola company. She wants to estimate the proportion of the population who enjoy their latest idea for a flavour enough to make it a successful product. Raisel wants to obtain a 95-percent confidence level estimate of the population proportion and she wants the estimate to be within 0.01 of the true proportion.
a) Using only the information given above, how large a sample is required?
Each of your answers should be rounded up to a whole number.
Sample size: 0
b) A quick preliminary estimate of the proportion obtained by her predecessor was 0.37. Knowing this, how large a sample is required?
Sample size: 0 I

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Answered Same DayDec 21, 2021

Answer To: Raisel is the new statistician at a cola company. She wants to estimate the proportion of the...

Robert answered on Dec 21 2021

123 Votes

Aim: To get 95 percent confidence level estimate of the proportion p of population who enjoy the
company’s latest idea enough to make it a successful product. The estimate should lie within 0.01 of the
true proportion.
a) Want to have an idea about how large a sample size should be to achieve this aim.
Let Raisel choose a sample of size n out of the total population and from each of the person she records
an answer which takes the value 1 if the
person enjoys the...

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Raisel is the new statistician at a cola company. She wants to estimate the proportion of the population who enjoy their latest idea for a flavour enough to make it a successful product. Raisel wants...

Answer To: Raisel is the new statistician at a cola company. She wants to estimate the proportion of the...

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