\displaystyleħ52 customers aged 50+ must be surveyed to achieve the desired accuracy. The margin of error E for a confidence interval for a population mean is Calculating the Sample Size for a Population Mean We want to find the minimum sample size required to achieve the desired level of accuracy in the confidence interval. But selecting a sample that is too small can lead to inaccurate conclusions. Selecting a sample that is too large is expensive and time consuming. Simple telephone surveys will cost approximately $30.00 each, for example, and some sampling requires the destruction of the product. Sampling can be very costly, in both time and product. However, if we are able to set the sample size, as in cases where we are taking a survey, it is very helpful to know just how large it should be to provide the most information. Usually we have no control over the sample size of a data set.
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