(Answered)-8.49 There are many reasons adults use credit cards. A recent survey (“Why Adults Use Credit Cards,”

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8.49 There are many reasons adults use credit cards. A recent survey (“Why Adults Use Credit Cards,” USA Today, October 18, 2007, p. 1D) found that 66% of adults used credit cards for convenience. a. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within of the population proportion, how many people need to be sampled? b. To conduct a follow-up study that would provide 99% confidence that the point estimate is correct to within of the population proportion, how many people need to be sampled? c. Compare the results of (a) and (b)

 

Solution ID:10137863 | Question answered on 16-Oct-2016

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