QNT 561 Descriptive Statistics and Interpretation

The sample size for the research study is computing using a confidence interval. Team B has to know the range of the confidence interval, the standard deviation, and the margin of error, the sample size because the confidence interval has to be calculated. Team B will have an estimated standard deviation of 0.5 since the sample size has to be large enough to make it accurate. Newton has a loyal customer base ranging from over a million clients nationwide. Team B has decided to use 350-500 shoppers as their sample size. A random method of data collection will be used on shoppers through a survey. Team B goal is to obtain at least 385 participants (Cooper & Schindler, 2011).

Appendix A 384.16 (round to 385 participants)

Sample Size = (Distribution of 50%) / ((Margin of Error% / Confidence Level Score)^2)

= (0.5 x (1-0.5)) / ((0.05/1.96)^2) = 384.16