Suppose we conduct a poll to estimate the proportion of voters who favor a major presidential candidate. Assuming that 50 percent of the electorate could be in favor of the candidate, determine the sample size needed so that we are 95 percent confident that pˆ, the sample proportion of voters who favor the candidate, is within a margin of error of .01 of p, the proportion of all voters who are in favor of the candidate.
Text Book: Business Statics in Practice By BOWERMAN.