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A University Surveyed 36 Randomly Selected Graduate Students in a Pilot

question 104

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A university surveyed 36 randomly selected graduate students in a pilot study and found that 27 said they favored the new university health insurance plan and 9 said they opposed it.How many students must the university survey in order to make an estimate of how all graduate students feel about the plan with a margin of error to be no more than 5 percentage points? Use the 95 percent confidence level.


Definitions:

Prices

The charge for acquiring a specific good or service.

Marginal Revenue

The revenue boost a firm experiences from the sale of an additional unit of a product or service.

Burritos

A Mexican dish consisting of a wheat flour tortilla rolled or folded around a filling, typically including beans, cheese, meat, and rice.

Marginal Revenue

The added financial gain received from selling an additional product or service unit.

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