A researcher wishes to estimate,
A researcher wishes to estimate, with 99% confidence, the population proportion of adults
who are confident with their country’s banking system. His estimate must be accurate within 2% of the population proportion.
(a) No preliminary estimate is available. Find the minimum sample size needed.
(b) Find the minimum sample size needed, using a prior study that found that 24% of the respondents said they are confident with their country’s banking system.
(c) Compare the results from parts (a) and (b).
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