Hello Ronny,
I should think that someone of your education should be familiar with this
matter !
I would apply the binomial distribution to calculate necessary sample size.
There seem to be two constraints in the problem. I guess the most stringent
constraint must prevail for both sides of this two-sided problem. If I have
got time I will dig into it further and report my findings.
Karel Postulart
[EMAIL PROTECTED]
Ronny Richardson <[EMAIL PROTECTED]> schreef in berichtnieuws
[EMAIL PROTECTED]
> 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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