MIS770 Foundation Skills In Business Analysis - Assignment Two

Q6. Appropriate Sample Size

Finally, I am concerned that the sample of 400 Australians is too small to provide accurate results as this seems hardly enough data. For a survey we intend to undertake next year, we would like to be able to:

1. estimate the proportion of Australians that are Aware or Very Aware of Climate Change to within 3%, and
2. accurately estimate the average monthly payment (“Monthly_Payment”) amount people are willing to pay in order to have net zero electricity bills through renewable energy to within $20.

How many Australians would we need to include in next year’s survey to satisfy both of these requirements? Regards, Daisy

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