How Large a Sample Must Be Drawn to Estimate the Proportion

question 69

Short Answer

How large a sample must be drawn to estimate the proportion of students who prefer statistics over mathematics, to within 0.02 with 95% confidence?

---

Definitions:

Interest Rate

The percentage charged on borrowed money or paid to the lender for the use of their money.

Mortgage

A loan specifically used to purchase real estate, where the property itself serves as collateral for the loan.

Monthly Payments

Regular payments made over a period, often referring to loan repayments, lease payments, or subscriptions that are due once per month.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries are made, used to prepare financial statements.