Pew Research Reports That 63% of the U

question 27

Essay

Pew Research reports that 63% of the U.S. adult cell phone owners use their phone to go online. A company wants to target 16- to 24-year olds for advertising and they wonder if that age group has a similar pattern of phone use.
-The company wants to estimate the true percentage of 16- to 24-year old cell phone owners who use their phone to go online to within ±7.5%, with 95% confidence. How many cell phone owners in this age group should they sample?

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Definitions:

Fixed Fee

A set amount charged for a service or product, unrelated to usage or quantity.

Local Phone Service

A telecommunications service that connects calls within a specific geographic area, typically within a single city or region.

Absolute Values

A numerical value regardless of its sign, denoted as the distance of a number on the number line from zero.

Indifference Curve

A graphical representation showing combinations of two goods between which a consumer is indifferent, indicating equal levels of satisfaction.