A marketing research study is asking consumer preference of…
A marketing research study is asking consumer preference of Brand X vs. Brand Y. Historically, the preference levels between both brand have been close to 50-50. If the researcher wants to have a confidence level of +/- 3% at the 95% confidence interval and not spend incremental $ for extra sample, what is approximate sample size needed (use the closest number)? Some formulas that may be of assistance