Answered: Credit card ownership. Credit card…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Chap 8 problem 63SE

Credit card ownership. Credit card ownership varies across age groups. In 2018 creditcards.com estimated that the percentage of people who own at least one credit card is 67% in the 18-24 age group, 83% in the 25-34 age group, 76% in the 35-49 age group, and 78% in the 50+ age group, Suppose these estimates are based on 455 randomly selected people for each age group.

b. Assuming the same sample size will be used in each age group, how large would the sample need ot be to ensure that the margin of error is .03 or less fo each of the four confidence intervals?

In the solved answer you have it as 944 but how do you get 489?

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