Adjusting to Level of Confidence and Sampling Error
Variance and Standard Deviation
July 9, 2019Forecasting & Inventory Model
July 9, 2019When determining the sample size for a proportion for a given level of confidence and samplingerror, the closer to 0.50 that p is estimated to be, the ___________ the sample size required.
A. Smaller
B. Larger
C. Sample size is not affected
D. The effect cannot be determined from the information given
The variance of the sample proportion is p*(1-p)/n. Now, the term “p*(1-p)” is maximized when p = 0.50 (the maximum is 0.5*0.5 = 0.25). For other …
This solution provides a brief explanation for determination of sampling size.
