Past surveys reveal that 30 percent of tourists going to Las Vegas to gamble throughout a weekend spend more than $1,000. Management wants to update this percentage.
The new study is to employ the 90 percent confidence level. The determine is to be in 1 percent of the population proportion. Determine the necessary sample size?
Management said that the sample size determined above is too large. What can be done to decrease the sample? Based upon your suggestion recalculate the sample size.