In a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-time college students who earn a bachelor's degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.05 margin of error and use a confidence level of 99%. Complete parts (a) through (c) below. a. Assume that nothing is known about the percentage to be estimated. n= (Round up to the nearest integer.) b. Assume prior studies have shown that about 40% of full-time students earn bachelor's degrees in four years or less. n= (Round up to the nearest integer.) c. Does the added knowledge in part (b) have much of an effect on the sample size? O A. No, using the additional survey information from part (b) does not change the sample size. O B. Yes, using the additional survey information from part (b) only slightly increases the sample size. OC. Yes, using the additional survey information from part (b) dramatically reduces the sample size. O D. No, using the additional survey information from part (b) only slightly reduces the sample size.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
Question

I need help working this out. Thank you.

In a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-time college students who earn a bachelor's degree in four years or less. Find the sample size
needed to estimate that percentage. Use a 0.05 margin of error and use a confidence level of 99%. Complete parts (a) through (c) below.
......
a. Assume that nothing is known about the percentage to be estimated.
n=
(Round up to the nearest integer.)
b. Assume prior studies have shown that about 40% of full-time students earn bachelor's degrees in four years or less.
n=
(Round up to the nearest integer.)
c. Does the added knowledge in part (b) have much of an effect on the sample size?
O A. No, using the additional survey information from part (b) does not change the sample size.
O B. Yes, using the additional survey information from part (b) only slightly increases the sample size.
C. Yes, using the additional survey information from part (b) dramatically reduces the sample size.
O D. No, using the additional survey information from part (b) only slightly reduces the sample size.
Transcribed Image Text:In a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-time college students who earn a bachelor's degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.05 margin of error and use a confidence level of 99%. Complete parts (a) through (c) below. ...... a. Assume that nothing is known about the percentage to be estimated. n= (Round up to the nearest integer.) b. Assume prior studies have shown that about 40% of full-time students earn bachelor's degrees in four years or less. n= (Round up to the nearest integer.) c. Does the added knowledge in part (b) have much of an effect on the sample size? O A. No, using the additional survey information from part (b) does not change the sample size. O B. Yes, using the additional survey information from part (b) only slightly increases the sample size. C. Yes, using the additional survey information from part (b) dramatically reduces the sample size. O D. No, using the additional survey information from part (b) only slightly reduces the sample size.
Expert Solution
steps

Step by step

Solved in 4 steps with 3 images

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt