Dan Williams took out a simple interest loan at 14.5% interest for 12 months. His previous balance is $119.42. What is the final
2 answers:
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Answer:
Sample size n = 1382
so correct option is D) 1382
Step-by-step explanation:
given data
confidence level = 99 %
margin of error = 3%
probability = 25 %
to find out
How large a sample size needed
solution
we know here P = 25 %
so 1 - P = 1 - 0.25
1 - P = 0.75
and we know E margin of error is 0.03 so value of Z for 99%
α = 1 - 99% = 1 - 0.99
α = 0.01
and =
= 0.005
so Z is here
= 2.576
so
sample size will be
Sample size n =
put here value
Sample size n = (\frac{2.576}{0.03})^2 * 0.25 * 0.75
Sample size n = 1382
so correct option is D) 1382