Favor of proposed new law and proportion


In an opinion poll it is assumed that an unknown proportion p of the people are in favor of a proposed new law and a proportion 1 - p are against it. A sample of n people is taken to obtain their opinion. The proportion p in favor in the sample is taken as an estimate of p. Using the Central Limit Theorem, determine how large a sample will ensure that the estimate will, with probability .95, be correct to within .01.

Solution Preview :

Prepared by a verified Expert
Finance Basics: Favor of proposed new law and proportion
Reference No:- TGS0681675

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)