And Mean Average is calculated with the help of Average formula ie. P standard of deviation. Thus the required sample size is 155.
S Z 2 P Q E 2.
Lets apply Standard deviation function in cell G14. Fill the N and e values into the formula n N 1 Ne 2. When to Use Slovins Formula. 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.
