What does brand loyalty mean to consumers? According to a recent research report, 38% of consumers associate trust with brand loyalty. Complete parts (a) through (e) below. a. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.04 of the population proportion, how large a sample size is required? A sample size of 566 consumers is required. (Round up to the nearest integer.) b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within +0.04 of the population proportion, how many people need to be sampled? A sample size of 978 consumers is needed. (Round up to the nearest integer.) c. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.02 of the population proportion, how large a sample size is required? A sample size of 2263 consumers is required. (Round up to the nearest integer.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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What does brand loyalty mean to consumers? According to a recent research report, 38% of consumers associate trust with brand loyalty. Complete parts (a) through (e) below.
.....
a. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.04 of the population proportion, how large a sample size is required?
A sample size of 566 consumers is required.
(Round up to the nearest integer.)
b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within +0.04 of the population proportion, how many people need to be sampled?
A sample size of 978 consumers is needed.
(Round up to the nearest integer.)
c. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.02 of the population proportion, how large a sample size is required?
A sample size of 2263 consumers is required.
(Round up to the nearest integer.)
d. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within ±0.02 of the population proportion, how many people need to be sampled?
A sample size of 3921 consumers is needed.
(Round up to the nearest integer.)
e. Discuss the effects of changing the desired confidence level and the acceptable sampling error on sample size requirements. Select all that apply.
A. The higher the level of confidence desired, the larger is the sample size required.
B. The higher the level of confidence desired, the smaller is the sample size required.
C. The smaller the sampling error desired, the smaller is the sample size required.
D. The higher the sampling error desired, the larger is the sample size required.
E. The smaller the level of confidence desired, the larger is the sample size required.
F.
The smaller the sampling error desired, the larger is the sample size required.
G. There are no effects on the sample size requirements.
Transcribed Image Text:What does brand loyalty mean to consumers? According to a recent research report, 38% of consumers associate trust with brand loyalty. Complete parts (a) through (e) below. ..... a. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.04 of the population proportion, how large a sample size is required? A sample size of 566 consumers is required. (Round up to the nearest integer.) b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within +0.04 of the population proportion, how many people need to be sampled? A sample size of 978 consumers is needed. (Round up to the nearest integer.) c. To conduct a follow-up study that would provide 95% confidence that the point estimate is correct to within +0.02 of the population proportion, how large a sample size is required? A sample size of 2263 consumers is required. (Round up to the nearest integer.) d. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within ±0.02 of the population proportion, how many people need to be sampled? A sample size of 3921 consumers is needed. (Round up to the nearest integer.) e. Discuss the effects of changing the desired confidence level and the acceptable sampling error on sample size requirements. Select all that apply. A. The higher the level of confidence desired, the larger is the sample size required. B. The higher the level of confidence desired, the smaller is the sample size required. C. The smaller the sampling error desired, the smaller is the sample size required. D. The higher the sampling error desired, the larger is the sample size required. E. The smaller the level of confidence desired, the larger is the sample size required. F. The smaller the sampling error desired, the larger is the sample size required. G. There are no effects on the sample size requirements.
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