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:
Where:
- = required sample size
- = Z-score corresponding to the desired confidence level
- = estimated proportion (if unknown, use for maximum variability)
- = 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 :
Calculating:
Step 3: Round up
Since we cannot survey a fraction of a person, we round up to the next whole number:
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:
- What is the significance of choosing for maximum variability?
- How does the confidence level affect the required sample size?
- What are the potential consequences of using a sample size that is too small?
- Can this sample size calculation be applied to other populations or studies?
- 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
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