1. A researcher for the U.S. Treasury department surveyed a sample of 780 Americans and asked each if they would be in favor of abolishing the penny. The sample found 149 supported the idea. Estimate with 98% confidence the proportion of all Americans that support abolishing the penny. [Use Z*=2.33]. a. b. Verify the conditions for your procedure above to be considered valid. c. How many Americans would need to be sampled to estimate the desired proportion to within a margin of error of 3%?

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1. A researcher for the U.S. Treasury department surveyed a sample of 780 Americans and
asked each if they would be in favor of abolishing the penny. The sample found 149
supported the idea.
Estimate with 98% confidence the proportion of all Americans that support abolishing the
penny. [Use Z*=2.33].
a.
b. Verify the conditions for your procedure above to be considered valid.
c. How many Americans would need to be sampled to estimate the desired proportion to
within a margin of error of 3%?
Transcribed Image Text:1. A researcher for the U.S. Treasury department surveyed a sample of 780 Americans and asked each if they would be in favor of abolishing the penny. The sample found 149 supported the idea. Estimate with 98% confidence the proportion of all Americans that support abolishing the penny. [Use Z*=2.33]. a. b. Verify the conditions for your procedure above to be considered valid. c. How many Americans would need to be sampled to estimate the desired proportion to within a margin of error of 3%?
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