A study randomly selected 676 Canadians and asked them what portion of their income they allocate to savings/investments. The average found was 28%. Suppose the population mean is 24.8% and the standard deviation is 3.2%. Determine the parameter, estimator, and estimate. What is the distribution of the estimator? а. b. What is the probability that the estimate is greater than 26%? c. What is the probability that the estimate is between 20% and 30%? d. What sample size would be needed if the researchers want the standard deviation of the estimator to be less than or equal to 0.01%?

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