3850 times a 1.3% interest rate for 6 years
1 answer:
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Answer:
With a .95 probability, the sample size that needs to be taken if the desired margin of error is .04 or less is of at least 216.
Step-by-step explanation:
In a sample with a number n of people surveyed with a probability of a success of , and a confidence level of
, we have the following confidence interval of proportions.
In which
z is the zscore that has a pvalue of .
The margin of error:
For this problem, we have that:
95% confidence level
So , z is the value of Z that has a pvalue of
, so
.
With a .95 probability, the sample size that needs to be taken if the desired margin of error is .04 or less is
We need a sample size of at least n, in which n is found M = 0.04.
With a .95 probability, the sample size that needs to be taken if the desired margin of error is .04 or less is of at least 216.