Provide an Appropriate Response $3 \%$ With $90 \%$ Reliability, How Many Students Would Need to Be Sampled?
A)

question 12

Multiple Choice

Provide an appropriate response.
-A university dean is interested in determining the proportion of students who receive some sort of financial aid. Rather than examine the records for all students, the dean randomly selects 200 students and finds that 118 of them are receiving financial aid. If the dean wanted to estimate the proportion of all students receiving financial aid to within $3 \%$ with $90 \%$ reliability, how many students would need to be sampled?

• A) 728
• B) 176
• C) 443
• D) 22

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Definitions:

Trillion

Trillion is a numerical value represented as 1,000,000,000,000 (10^12), commonly used to quantify large figures such as government budgets, economics, and astronomy.

Induced Consumption

Spending by consumers that varies with income, meaning as income increases, consumption also increases, and vice versa.

Disposable Income

The budgeting capacity for households in terms of saving and spending after income tax commitments.

Saving

The portion of income that is not spent on consumption but rather set aside for future use, often in investments or deposit accounts.