What does brand loyalty mean to consumers? According to a recent research report, 38% of consumers associate trust with brand loyalty. 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?
What does brand loyalty mean to consumers? According to a recent research report, 38% of consumers associate trust with brand loyalty. 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?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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.
| 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 |
A sample size of ___ consumers is required.
Expert Solution
Step 1
We have given that
Margin of error = + - 0.02 and
Population proportion p= 38%=0.38
95%confidence.
Level of significance =alpha =0.05
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