I cannot work the following problem and I am hoping someone can help me.
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? According to the book's key, the answer is 798. I believe this to be a power question but I'm not sure how to get started. I appreciate any help. Ronny ================================================================= Instructions for joining and leaving this list, remarks about the problem of INAPPROPRIATE MESSAGES, and archives are available at: http://jse.stat.ncsu.edu/ =================================================================
