Questions: What sample size is needed to give a margin of error within ± 1.5% in estimating a population proportion with 95% confidence?
Round your answer up to the nearest integer.
Transcript text: What sample size is needed to give a margin of error within $\pm 1.5 \%$ in estimating a population proportion with $95 \%$ confidence?
Round your answer up to the nearest integer.
Solution
Solution Steps
Step 1: Define the Problem
We need to determine the sample size \( n \) required to achieve a margin of error of \( \pm 1.5\% \) (or \( 0.015 \) in decimal form) when estimating a population proportion with a confidence level of \( 95\% \).
Step 2: Identify the Z-score
For a \( 95\% \) confidence level, the corresponding Z-score is approximately \( Z = 1.96 \).
Step 3: Use the Formula for Sample Size
The formula for the margin of error in estimating a population proportion is given by:
\[
\text{Margin of Error} = Z \times \sqrt{\frac{p(1-p)}{n}}
\]
Rearranging this formula to solve for \( n \) gives:
\[
n = \frac{Z^2 \times p(1-p)}{\text{Margin of Error}^2}
\]
Step 4: Substitute Values
Assuming the worst-case scenario for the population proportion \( p = 0.5 \):