If Jesse wants to buy a $75,000 10-year term life insurance policy, and the annual premium rate (per $1000 of face value) for hi
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Answer:
The correct answer is "664".
Step-by-step explanation:
The given values are:
Margin of error,
E = 5%
i.e.,
= 0.05
Level of confidence,
C = 99%
i.e.,
= 0.99
Level of significance,
α = 0.01
From the z value table,
Critical z = 2.576
As we know,
The required sample size n will be:
=
On substituting the values, we get
=
=
=
=
i.e.,
=