Math Problem Statement

Marketing companies are interested in knowing the population proportion of women who make the majority of household purchasing decisions. When designing a study to determine this population proportion, what is the minimum number you would need to survey to be 90% confident that the population proportion is estimated to within 0.05?

Solution

To determine the minimum sample size needed to estimate a population proportion with a specified confidence level and margin of error, we can use the formula for sample size in proportion estimation:

n=(Z2p(1p)E2)n = \left( \frac{Z^2 \cdot p \cdot (1 - p)}{E^2} \right)

Where:

  • nn = required sample size
  • ZZ = Z-score corresponding to the desired confidence level
  • pp = estimated proportion (if unknown, use p=0.5p = 0.5 for maximum variability)
  • EE = margin of error

Step 1: Identify the values

  • Confidence Level: 90% (Z-score ≈ 1.645)
  • Margin of Error (E): 0.05
  • Estimated Proportion (p): If unknown, we use 0.5.

Step 2: Substitute into the formula

Using p=0.5p = 0.5:

n=((1.645)20.5(10.5)(0.05)2)n = \left( \frac{(1.645)^2 \cdot 0.5 \cdot (1 - 0.5)}{(0.05)^2} \right)

Calculating:

n=(2.7060250.50.50.0025)=(0.676506250.0025)=270.6025n = \left( \frac{2.706025 \cdot 0.5 \cdot 0.5}{0.0025} \right) = \left( \frac{0.67650625}{0.0025} \right) = 270.6025

Step 3: Round up

Since we cannot survey a fraction of a person, we round up to the next whole number:

n=271n = 271

Conclusion

The minimum number of respondents needed to be 90% confident that the population proportion is estimated within 0.05 is 271.

Would you like more details or have any questions? Here are some related questions you might consider:

  1. What is the significance of choosing p=0.5p = 0.5 for maximum variability?
  2. How does the confidence level affect the required sample size?
  3. What are the potential consequences of using a sample size that is too small?
  4. Can this sample size calculation be applied to other populations or studies?
  5. What are some methods to ensure a representative sample in surveys?

Tip: Always check if the sample is randomly selected to minimize bias in your results.

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Math Problem Analysis

Mathematical Concepts

Statistics
Sample Size Calculation

Formulas

n = (Z^2 * p * (1 - p)) / E^2

Theorems

Central Limit Theorem

Suitable Grade Level

Grades 11-12