Find the sample size needed to be 98% confident that a marketing survey on the proportion of shoppers who use the internet for holiday shopping is accurate within a margin of error of .02. Assume that the conditions for a binomial distribution are met, and that a current estimate for a sample proportion does not exist.
Sample size?
If you don't have an estimate for the sample proportion, use 0.5. It will provide the most conservative estimate of the standard deviation (i.e., largest) and therefore the largest sample size (i.e., safest and most conservative). The standard deviation is a function of the estimated proportion in a binomial setting.
Reply:n %26gt; ((z*)(std. dev) / mar. of error)^2
I don't see a standard deviation, so prehaps you left it out?
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