When Determining Sample Size We Need to Know $\hat { \mathrm { p } }$

question 59

Essay

When determining sample size we need to know $\hat { \mathrm { p } }$ . If we have no prior information, what are two methods that can be used?

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Definitions:

Full Disclosure Act

Legislation or regulatory requirement obligating companies to provide all material information necessary for informed decision-making by stakeholders.

Monetary Civil Penalties

Fines imposed in civil legal proceedings as a punishment for violating laws or regulations.

Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau is a regulatory agency charged with overseeing financial products and services offered to consumers.

Magnuson-Moss Warranty Act

U.S. federal law that governs warranties on consumer products to ensure product standards and protect consumers.