Provide an Appropriate Response $\mathrm{n}=\frac{\left[{ }^{\mathrm{z}} \alpha / 2\right]^{2} \cdot \mathrm{\hat{p}\hat{q}}}{\mathrm{E}^{2}}$

question 87

Essay

Provide an appropriate response.
-When determining the sample size for a desired margin of error, the formula is $\mathrm{n}=\frac{\left[{ }^{\mathrm{z}} \alpha / 2\right]^{2} \cdot \mathrm{\hat{p}\hat{q}}}{\mathrm{E}^{2}}$ . Based on this formula, discuss the fact that sample size is not dependent on the population size; that is, it is not necessary to sample a particular percent of the population.

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Definitions:

Sales Estimates

Projections or predictions about the amount of revenue that will be generated through sales activities within a certain period.

Budgeted Sales

An estimate of the sales volume and revenue expected to be achieved in a specific period, typically used for planning purposes.

Units

A measure of quantity used to express the amount of a product or service.

Unit Selling Price

The amount charged to the customer for a single unit of a product or service.