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In a study of government financial aid for college students, it becomes necessary to estimate the...

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 margin of error of 0.05 and a confidence level of 99%.

Assume that no prior estimate is known for p̂.
Assume that prior studies have shown that about 45% of full-time students earn a bachelor’s degree in four years
or less.

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