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 90%. Complete parts (a) through (c) below. a. Assume that nothing is known about the percentage to be estimated. (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=0 (Round up to the nearest integer.) c. Does the added knowledge in part (b) have much of an effect on the sample size?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
icon
Related questions
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 90%. Complete parts (a) through (c) below.
a. Assume that nothing is known about the percentage to be estimated.
(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=0
(Round up to the nearest integer.)
c. Does the added knowledge in part (b) have much of an effect on the sample size?
Transcribed Image Text: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 90%. Complete parts (a) through (c) below. a. Assume that nothing is known about the percentage to be estimated. (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=0 (Round up to the nearest integer.) c. Does the added knowledge in part (b) have much of an effect on the sample size?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 6 images

Blurred answer
Knowledge Booster
Point Estimation, Limit Theorems, Approximations, and Bounds
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill