Bank Survey – sample size
Solve: Sample size Needed to Estimate a Population Mean.
July 9, 2019Political Affiliation Bias
July 9, 2019Bea asks Brian the sample size and the timeframe.
Brian responds, 140,000
Suppose the bank has one million customers in the USA (where the surveyis conducted)
With a 95% confidence level and a margin of error of 3%, what would you recommend the minimum sample size to be?
This is the minimum sample size. In practice, there would be some adjusted increase for an estimated response rate.
n = p(1-p)(Z/E)^2 =
This solution shows details of how to calculate the appropriate sample size from the information provided.
