After Calculating the Sample Size Needed to Estimate a Population

question 30

Multiple Choice

After calculating the sample size needed to estimate a population proportion to within 0.05,you have been told that the maximum allowable error (B) must be reduced to just 0.025.If the original calculation led to a sample size of 1000,the sample size will now have to be

• A)2000.
• B)4000.
• C)1000.
• D)8000.

---

Definitions:

Marginal Cost

The additional cost incurred from producing one more unit.

Average Revenue

The revenue received per unit of goods or services sold.

Minimize Losses

A strategy or approach aimed at reducing the amount of losses incurred in a business or investment.

Highly Differentiated

Refers to products, services, or markets where there is significant variation in features, quality, or branding, making each distinct from others.