A Polling Agency Wants to Determine the Size of a Random

question 39

Multiple Choice

A polling agency wants to determine the size of a random sample needed to estimate theproportion of homeowners who keep a hand gun in their home for security. The estimate shouldhave margin of error no more than 2.5 percentage points at a 95% level of confidence. Choose themost conservative answer that is closest to your calculated number, rounding to the nearest wholeperson.

• A) They should poll at least 1600 people.
• B) They should poll at least 1200 people.
• C) They should poll at least 400 people.
• D) They should poll at least 1000 people.

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Definitions:

Abusive Means

Practices or methods that are harmful, manipulative, or intended to exploit or oppress individuals or groups.

Herfindahl Index

A measure of market concentration that calculates the sum of the squares of the market shares of the firms within an industry, used to assess the competition level.

Market Shares

The percentage of an industry's sales that a particular company controls.

Conglomerate Merger

A type of merger where two or more companies in unrelated business areas combine operations.