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Homework answers / question archive / A restaurant would Ike to estimate the proportion of tips that exceed 18% of its dinner bills
A restaurant would Ike to estimate the proportion of tips that exceed 18% of its dinner bills. Without any knowledge of the population proportion, determine the sample size needed to construct a 98% confidence interval with a margin of error of no more than 8% estimate the proportion,
The sample size needed ? (Round up to the nearest integer)
With no prior knowledge of proportion , p = 0.50
Sample size = Z2 /2 * p ( 1 - p) / E2
= 2.05372 * 0.5 * 0.5 / 0.082
= 164.75
