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 0.02 margin of error and use a confidence level of 99%. 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 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. No, using the additional survey information from part (b) only slightly reduces the sample size. OB. No, using the additional survey information from part (b) does not change the sample size. O C. Yes, using the additional survey information from part (b) only slightly increases the sample size. O D. Yes, using the additional survey information from part (b) dramatically reduces the sample size.

Answer 1

My dear student I am allowed to solve one question at a time so I am solving the first question in the pic thank you
do 0.02 Mangin of Erran (E) = Samplo proportion (P) -- confidence level 6.5 (As prior proportion is Hot given 991 At 99% confidence 1-0.99 0.01 Yg=0.005 2(0.005.) = 2.576 [using 2-table] margin of Error (E)= ZGia ľ (1-P) n 0.00 [given so scemple suje (n)? Z(+122 / PCI-P 2.576 0.02 0.5(1-0.5) 4147 so om Requiel Sample size 4147

7 Yes using the addelional 6 0.02 margin of Error (E)= Simply proportion (P) = 0.6 Confidence level 991 Sinilenly port (a) 2(0.005) = 2.576 margin of Erron Error (E) 26,2) P (I-P 0.02 [given So sample size (n) = (2612) P(1-P E 2.576 0.02 0.6(1-0.6) ¿13981 So an Required sample sije (m) = (3981 sunury informalıon from pert (b) chamal.cally reduce the sample size so option to correct