Determining Sample Size . In Exercises 31–38, use the given data to find the minimum sample size required to estimate a population proportion or percentage. 33. Bachelor’s Degree in Four Years 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 0.05 margin of error, and use a confidence level of 95%. a. Assume that nothing is known about the percentage to be estimated. b. Assume that prior studies have shown that about 40% of full-time students earn bachelor’s degrees in four years or less. c. Does the added knowledge in part (b) have much of an effect on the sample size?
Determining Sample Size . In Exercises 31–38, use the given data to find the minimum sample size required to estimate a population proportion or percentage. 33. Bachelor’s Degree in Four Years 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 0.05 margin of error, and use a confidence level of 95%. a. Assume that nothing is known about the percentage to be estimated. b. Assume that prior studies have shown that about 40% of full-time students earn bachelor’s degrees in four years or less. c. Does the added knowledge in part (b) have much of an effect on the sample size?
Determining Sample Size. In Exercises 31–38, use the given data to find the minimum sample size required to estimate a population proportion or percentage.
33. Bachelor’s Degree in Four Years 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 0.05 margin of error, and use a confidence level of 95%.
a. Assume that nothing is known about the percentage to be estimated.
b. Assume that prior studies have shown that about 40% of full-time students earn bachelor’s degrees in four years or less.
c. Does the added knowledge in part (b) have much of an effect on the sample size?
Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.
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