17. In a study of government financial aid for college students, it becomes nece

Question

17. 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 0.01 margin of error and use a confidence level of 95%. Complete parts (a) through (c) below. a. Assume that nothing is known about the percentage to be estimated. n= Round up to the nearest integer.) b. Assume prior studies have shown that about 45% of full-time students earn bachelor's degrees in four years or less. n= Round up to the nearest integer.) c. Does the added knowledge in part (b) have much of an effect on the sample size? O A. No, using the additional survey information from part (b) only slightly reduces the sample size O B. No, using the additional survey information from part (b) does not change the sample size. ( C. Yes, using the additional survey information from part (b) only slightly increases the sample size. D. Yes, using the additional survey information from part (b) dramatically reduces the sample size.

Explanation / Answer

a)
when p^ is not given
n = z^2/(4e^2)
z = 1.96 for 95 % confidence level
= 1.96^2/(4 * 0.01^2)
= 9604

b)
p^ is known
n = z^2 * pq/e^2
= 1.96^2 * 0.45 *0.55/0.01^2
=9507.96
c)
yes, sample size reduces
option D) is correct

Please rate

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.