Problem: You have been assigned to determine whether more people prefer Coke or Pepsi. Assume that roughly half the population prefers Coke and half prefers Pepsi. How large a sample do you need to take to ensure that you can estimate, with 90% confidence, the proportion of people preferring Coke to within 5% of the actual value? Show all of your work.
In your Excel spreadsheet,
Identify the sample size.
Utilize the support tool of Excel.
Present any equations utilized.

Question

07-06-2024
Business

Answered

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Problem: You have been assigned to determine whether more people prefer Coke or Pepsi. Assume that roughly half the population prefers Coke and half prefers Pepsi. How large a sample do you need to take to ensure that you can estimate, with 90% confidence, the proportion of people preferring Coke to within 5% of the actual value? Show all of your work.
In your Excel spreadsheet,
Identify the sample size.
Utilize the support tool of Excel.
Present any equations utilized.

Sagot :

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