Assignment:
A "random survey" was conducted of 3274 people of the "microprocessor generation" (people born since 1971, the year the microprocessor were invented). It was reported that 48% of those individuals surveyed stated that if they had $2000 to spend, they would use it for computer equipment. Also, 66% of those surveyed considered themselves relatively savvy computer users.
(Source: San Jose Mercury News)
a. Do you consider the sample size large enough for a study of this type? Why or why not?
Based on your "gut feeling," do you believe the percents accurately reflect the U.S. population for those individuals born since 1971? If not, do you think the percents of the population are actually higher or lower than the sample statistics? Why?
Provide complete and step by step solution for the question and show calculations and use formulas.