Question

In a study of government financial aid for college​ students, it becomes necessary to estimate the percentage of​ full-time college students who earn a​ bachelor's degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.05 margin of error and use a confidence level of 99%. Complete parts​ (a) through​ (c) below.

1) Assume that nothing is known about the percentage to be estimated.

n=

2)Assume prior studies have shown that about 45%of​ full-time students earn​ bachelor's degrees in four years or less.

n=

3)Does the added knowledge in part​ (b) have much of an effect on the sample​ size?

Answer 1

Refer Standard normal table/Z-table or use excel function "=NORM.S.INV((1-0.005))" to find the Z-value.

Round the value to the nearest integer.

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Round the value to the nearest integer.

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