Use the Given Data to Find the Minimum Sample Size $\hat { \mathrm { p } } \text { and } \hat { \mathrm { q } } \text { unknown }$

question 114

Multiple Choice

Use the given data to find the minimum sample size required to estimate the population proportion.
-Margin of error: 0.009; confidence level: 99%; $\hat { \mathrm { p } } \text { and } \hat { \mathrm { q } } \text { unknown }$

• A) 21,442
• B) 19,566
• C) 20,465
• D) 9642

Understand the concept and importance of strategic planning in business.

Comprehend the significance of legal, ethical, and philanthropic responsibilities in business operations.

Recognize the role and impact of market research on product and service development.

Identify the components and benefits of conducting a SWOT and competitive analysis in business strategy formulation.

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Definitions:

Demand Fluctuates

The variability in consumer desire to purchase goods or services over time, often affected by seasons, trends, or economic conditions.

Stocks

Shares of ownership in a company that represent a claim on the company's earnings and assets.

Probability

The measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.

Risk Premium

Higher expected rates of return that compensate investors in risky assets. In equilibrium, differences in the rate of return reflect differences in the riskiness of an investment.