What follows is a question from the test bank for Complete Business
Statistics by Amir Aczel. I am embarrassed to say that I cannot figure out
how to work the problem. I do know from the test bank program that the
answer is 798. Any hints or solutions would be greatly appreciated.
"A real estate salesperson wants to prove that 65% of all home-owners
change their house in less than 6 years. This salesperson wants to have a
90% probability of success if the true percentage is 60%. If the
hypothesis test is carried out at a 5% level of significance, what should
be the minimum sample size in a survey conducted to prove this claim?"
Dr. Ronny Richardson
Associate Professor of Management
Southern Polytechnic State University
School of Management
1100 South Marietta Parkway
Marietta, GA 30060-2896
Phone: (770) 528-5542
Fax: (770) 528-4967
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