A Study Is Going to Be Conducted in Which a Population

question 90

Multiple Choice

A study is going to be conducted in which a population mean will be estimated using a 92% confidence interval.The estimate needs to be within 12 of the actual population mean.The population variance is estimated to be around 2500.The necessary sample size should be at least _______.

• A)15
• B)47
• C)54
• D)638
• E)700

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Definitions:

Test Marketing

A trial mini-launch of a product in limited areas that represent the potential market.

Potential Market

The entire market universe that could potentially buy a product or service, considering all possible customers who fall within a segment.