jessicawoodward814
Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

A store manager wants to estimate the proportion of customers who spend money in this store. How many customers are required for a random sample to obtain a margin of error of at most 0.075 with 80% confidence?

Sagot :

The 73 customers who spend money in this store if a MOE of at most 0.075 with 80% confidence.

What is the margin of error(MOE)?

MOE is an error that provides an estimate of the percentage of errors in real statistical data.

The formula for finding the MOE:

MOE = z x s/√n

Where ,

Z = the z-score at the confidence interval

s =  the standard deviation

n = the number of samples.

We have p = 0.50 MOE = 0.075

Z = 1.282 at 80% confidence

0.075 = 1.282 x √0.50(1- 0.50)/ n

After solving,

n = (0.5)(0.5)/(0.0585)²

n = 73

Thus, the 73 customers who spend money in this store if a MOE of at most 0.075 with 80% confidence.

Learn more about the Margin of error here:

brainly.com/question/13990500

#SPJ1

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.