[MOVED] confidence? (size of random sample necessary)

[kristen7]

In preparing a report on the economy we need to estimate the proportion of businesses that intend to hire additional employees in the next 60 days.

(a) If we have no prior estimate of the proportion, how many randomly selected employers must we sample in order to be 98% confident that our estimation error will be no more than 0.05?

 

[pka]

How many times are you going to post the same problem?
At least two times here!
And at least two other web sites!

 

[kristen7]

yeah i cant find help .

i cant find any help whatsoever.

 

[stapel]

At least two times here!

Duplicate deleted. Thank you.

Eliz.

 

[kristen7]

anyone know how to do this problem

iv been working on it and havent a clue..

 

[stapel]

[I've] been working on it....

Great. What have you tried so far? How far have you gotten? Where are you stuck?

Please be specific. Thank you.

Eliz.

 

[kristen7]

hahah

nevermind i got help somewhere else. lol

 

[galactus]

Since you have no preliminary estimate for p and q, use p=0.5 and q=0.5.

\(\displaystyle \L\\n=pq(\frac{z}{E})^{2}\)

\(\displaystyle \L\\n=(0.5)(0.5)(\frac{2.326}{0.05})^{2}\approx{541.0276}\)

Round up to 542