Answer:
6,766
Explanation:
Given:
• Margin of error = 0.01
,
• Confidence Level = 90%
We want to find the sample size needed to estimate the percentage of full-time students who earn a bachelor's degree in four years or less.
In order to determine the sample size, we use the formula below:
[tex]n=\left(\frac{z^{*}}{M}\right)^{2} \tilde{p}(1-\tilde{p})[/tex]
• Because there is no estimate of the proportion given, take ,p=0.5,.
,
• For a 95% confidence interval, z=1.645
Substitute these values into the formula:
[tex]\begin{gathered} n=\left(\frac{1.645}{0.01}\right)0.5(1-0.5) \\ =6765.0625 \\ n\approx6,766 \end{gathered}[/tex]
The sample size is 6,766.
