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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

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