Figure 7 Sample size requirement for Example 2. If the population is N then the corrected sample size should be 186N N185. If these weighting factors are applied to the data you will get a weighted sample which is 50 males and 50 females.
What is the mean value and the standard deviation.
The resulting value of n equals the sample size to be used. Sample standard deviation refers to the statistical metric that is used to measure the extent by which a random variable diverges from the mean of the sample and it is calculated by adding the squares of the deviation of each variable from the mean then divide the result by a number of variables minus and then computing the square root in excel of the result. 196 for 95 confidence level p percentage picking a choice expressed as decimal. Therefore the sample size can be calculated using the formula as 10000 196 2 05 1-05 005 2 10000 1 196 2 05 1-05 005 2 Therefore 370 customers will be adequate for deriving meaningful inference.