DECISION MODELING AND ANALYSIS

Confidence Intervals

In this week’s reading, we discussed different types of samples, their distributions, sampling errors, probabilities, and confidence intervals.  Using the appropriate support tool, sequence, and equations, complete Problem 33 in Chapter 8 on page 351.

Problem 8-33. You have been assigned to determine whether more people prefer Coke or Pepsi. Assume that roughly half the population prefers Coke and half prefers Pepsi. How large a sample do you need to take to ensure that you can estimate, with 95% confidence, the proportion of people preferring Coke within 2% of the actual value?Show work.

Carefully review the Grading Rubric (Links to an external site.)Links to an external site. for the criteria that will be used to evaluate your assignment.