Use the Given Data to Find the Minimum Sample Size $\hat{p}$

question 67

Multiple Choice

Use the given data to find the minimum sample size required to estimate the population proportion.
-Margin of error: 0.008; confidence level: 99%; from a prior study, $\hat{p}$ is estimated by 0.208.

• A) 9889
• B) 15,361
• C) 137
• D) 17,068

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Definitions:

Exponential Service

A distribution model describing the time between events in a Poisson process, often used in queuing theory to model times between services.

Poisson Arrival

Describes a process where events occur randomly and independently of one another at a constant average rate, often used in queueing theory.

Waiting Line System

A methodical process used to manage the queue of entities waiting to receive services, optimizing both service and waiting times.

Available Teller

Refers to a bank employee who is present and able to assist customers with transactions and inquiries.