Calculate the minimum sample size that you must have to meet these requirements.

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Suppose you wish to determine the proportion of college students in your state who receive some form of financial aid. You want to be 95% confident of your results and have a maximum error of 4%. Calculate the minimum sample size that you must have to meet these requirements.
 
 
 
Expert Solution
Step 1: Determine the given data in the question

Let p be the pop. prop. of college students in the state who receive the form of financial aid.

Given that,

Confidence level left parenthesis C right parenthesis equals 95 percent sign equals 0.95

alpha equals 1 minus C
equals 1 minus 0.95
equals 0.05
1 minus alpha over 2 equals 1 minus fraction numerator 0.05 over denominator 2 end fraction equals 0.975

Margin of error left parenthesis E right parenthesis equals 4 percent sign equals 0.04



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