Quiz: Quiz 7 (Sections 7.1 - 7.3) Time Remaining: 00:27:26 Submit Quiz This Ques

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Quiz: Quiz 7 (Sections 7.1 - 7.3) Time Remaining: 00:27:26 Submit Quiz This Question: 3 pts This Quiz: 30 pts possible In a study of govenment financial aid for through (c) below. a. Assume that nothing is known about the percentage to be estimated. n= four years or less. Find the sample size needed to estimate that percentage. Use a 001 margin of error and use a confidence level of 95%. Complete parts a (Round up to the nearest integer.) b. Assume prior studies have shown that about 60% of full-time students earn bachelor's degrees in four years or less. 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. O c. No, using the adlional survey information from part(o) does not change the sample size. No, using the additional survey information from part (b) only slightly reduces the sample size. Yes, using the additional survey information from part (b) dramatically reduces the sample size. el D. Yes, using the additional survey information from part (b) only slightly increases the sample size. o in

Explanation / Answer

Ans:

Margin of error=0.01

z value for 95% confidence is 1.96

a)when no previos estimate of p,consider p=0.5

sample size ,n=1.962*0.5*0.5/0.012=9604

n=9604

b)

p=0.6

n=1.962*0.6*0.4/0.012=9219.84

n=9220

c)Option B is correct(as with p=0.6,sample size is decreased from 9604 to 9220)

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