4) A simple random sample is to be taken of 572 business majors in a college to estimate the proportion favoring greater emphasis on business ethics in the curriculum. How many observations are necessary to ensure that a 95% confidence interval for the population proportion extends at most 0.04 on each side of the sample proportion.

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.