An entrepreneur is thinking of starting a new ice cream store and wants to estim

Question

An entrepreneur is thinking of starting a new ice cream store and wants to estimate
the proportion of people in the city whose favourite
avour is chocolate. Thanks to a friend
in the chamber of commerce, the entrepreneur has been told that a previous study put the
proportion of people in the city whose favourite ice cream
avour is chocolate to be 65%.
What is the minimum sample size required to estimate the population proportion of people
whose favourite ice cream
avour is chocolate to be within 0:021 at 99% con dence?
(a) 3420
(b) 2801
(c) 3421
(d) 4310

Explanation / Answer

here margin of error E=0.021

for estimated proportion p=0.65

for 99% CI ; crtical z =2.5758

hence required sample size n=p*(1-p)*(Z/E)2 =3421

option C is correct

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