Confidence Intervals
Using Excel or StatTools, complete the following Problem.
Determine whether more people prefer Coke or Pepsi.Assume that roughly half the population prefers Coke and half prefers Pepsi.
How large a sample do you need to take to ensure that you can estimate, with 90% confidence, the proportion of people preferring Coke to within 5% of the actual value? Show all of your work.