## In a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-time college students

In a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-time college students who earn a bachelor’s degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.02 margin of error and use a confidence level of 99%. Complete parts (a) through (c) below.

a. Assume that nothing is known about the percentage to be estimated.n = ________b. Assume prior studies have shown that about 55% of full-time students earn bachelor’s degrees in four years or less.n = _______c. Does the added knowledge in part (b) have much of an effect on the sample size?

## Answers ( )

Answer:(a) The sample size required is

2401.(b) The sample size required is

2377.(c)

Yes, on increasing the proportion value the sample size decreased.Step-by-step explanation:The confidence interval for population proportion

pis:The margin of error in this interval is:

The information provided is:

MOE = 0.02

(

a)Assume that the proportion value is 0.50.

Compute the value of

nas follows:Thus, the sample size required is

2401.(

b)Given that the proportion value is 0.55.

Compute the value of

nas follows:Thus, the sample size required is

2377.(

c)On increasing the proportion value the sample size decreased.