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leonid [27]
2 years ago
6

A music buff wants to estimate the percentage of students at a midwestern university who believe that elvis is still alive. how

many students should he include in a random sample if he wants a 90% confidence interval that is less than 10 percentage points wide? (choose the sample size that is closest to your solution) question 7 options:
Mathematics
1 answer:
gulaghasi [49]2 years ago
5 0
Since we are not given any information about the proportion, we will assume the sample proportion to be 0.50

so,
p = 0.50
The Error is 10% percentage point. This means that on either side of the population proportion the error is 5% so E = 0.05
z = 1.645 (Z value for 90% confidence interval)

The margin of error for population proportion is calculated as:

E=z* \sqrt{ \frac{p(1-p)}{n} }  \\  \\ 
 \frac{E}{z} = \sqrt{ \frac{p(1-p)}{n} }  \\  \\ 
( \frac{E}{z} )^{2}= \frac{p(1-p)}{n} \\  \\ 
n= p(1-p)* (\frac{z}{E})^{2}  \\  \\ 
n=271

This means 271 students should be included in the sample
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Interest rate= 2.25/75 *100= 3%

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Plus a down payment of $600

= $3600

Interest=3600-3298= 302

Interest rate= 302/3298 *100=9.12%

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