Use the given data to find the minimum sample size required to estimate the population proportion.   Margin of​ error: 0.01​; confidence​ level: 95%; from a prior​ study, p is estimated by the decimal equivalent of 60​%.   A. 9,220   B. 8,298   C. 23,050   D. 15,914

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Use the given data to find the minimum sample size required to estimate the population proportion.
 
Margin of​ error:
0.01​;
confidence​ level: 95%; from a prior​ study,
p
is estimated by the decimal equivalent of
60​%.
 
A.
9,220
 
B.
8,298
 
C.
23,050
 
D.
15,914
 
 
Expert Solution
Step 1

The confidence level is 95%

Therefore, α = 0.05 and α/2=0.025.

The margin of error is 0.01

Here, p= 0.60 and 1–p= 0.40.

Thus, zα/2 =1.96 (using the formula =NORM.INV (0.975, 0,1)).

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