Sampling IP

Sampling IP

MEMORANDUM

To: Universal Credit Inc

From: Your name

Date: 25 March 2011

Subject: Universal Credit Inc -Sample size request

Introduction

As per your request, here is the calculated sample size which would be needed in selecting the card holder, or how many card holders are there whom the company thinks that they spend about roughly $ 50 each month.

Data Available for this research

Standard Deviation =$750

Confidence Interval =95%

True mean =+50,-50

Z=1.96

Formula

n=z² x p (1-p)

m²

Description

n = the required size of sample

z = confidence level at 95% (standard value = 1.96)

p = judged value of spending by card holder

m = here m shows the margin of ...