A credit card manager wishes to determine the proportion of

Paligutanhk

Paligutanhk

Answered question

2021-12-09

A credit card manager wishes to determine the proportion of customer calls that result in a dissatisfied customer.
Based on some preliminary data, she estimates the percentage to be 10% (p=0.10). A precision of 15% and confidence level of 90% are desired. What is the sample size?

Answer & Explanation

sonorous9n

sonorous9n

Beginner2021-12-10Added 34 answers

Step 1
From the given information, the percentage to be 10%(p=0.10)
Given precision of 15% and confidence interval of 90% are desired.
Margin of Error is,
ME=15% of p
=0.150.10
=0.015
Significance level is 100%90%=10%.
From the standard normal table, the critical value corresponding with 10% is 1.645.
Step 2
Sample size:
n=(zcriticalME)2p(1p)
=(1.6450.015)20.10(10.10)
=1082.41
1083

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