I was watching a lecture earlier by Marcus du Sautoy called: 'Thinking Better with Mathematics.'
Marcus discusses the statistical sample sizes to verify statements about the population. In his own example, he addresses a statement about cat food.
In particular, a cat food brand in the 1970s/80s, argued that "8 out of 10 cats preferred this cat food."
The population size (in the UK) at that time, was 7 million. But to verify this statement, only a relatively small sample of 246 would be required.
The statement from that video is: For a population of 7 million cats, if we sample 246 cats, then 19 out of 20 times the sample is within 5% of the true value.
I wondered if someone could derive this, given the the limited information? Or if not, provide a link/direction on this type of information.
The video lecture with the information is here at 13:30 to 15:20 mins. https://www.youtube.com/watch?v=4PlmsnyWXMw
The statement from that video is: For a population of 7 million cats, if we sample 246 cats, then 19 out of 20 times the sample is within 5% of the true value.