Find the Minimum Sample Size Required to Estimate a Population

question 15

Essay

Find the minimum sample size required to estimate a population proportion p .
-Margin of error: three percentage points; confidence level: 90%; from a prior study, is estimated by the decimal equivalent 60.7%

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Definitions:

Determinant

A factor or variable that decisively affects the nature or outcome of something.

Money Incomes

Earnings received in the form of currency or its equivalent, typically through employment, investments, or transfers like pensions and benefits.

Wage Rates

The amount of money paid to an employee per unit of time, such as an hour or month, for labor or services.

Labor Demand

The total amount of workers that employers are willing and able to hire at a given wage rate in a given period.