Two investments totaling $35,000 produce an annual income of $830. One investment yields 2% per year, while the other yields 3%
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Answer:
900 sample size
Step-by-step explanation:
To determine the sample size for a proportion, the margin of error formula is used to determine this:
Where p is the proportion, E is the margin of error, n is the sample size, q = 1 - p, is the z score.
Since the proportion is not known, the sample size needed to guarantee the confidence interval and error is at p = 0.5 and q = 1 - p = 1 - 0.5 = 0.5
E = 5% = 0.05, = 3. Hence: