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The federal government would like to estimate the proportion of households in the U.S. population that...

The federal government would like to estimate the proportion of households in the U.S. population that own their own homes. A pilot sample of 40 households found that 24 of them owned their homes. Determine the number of households that need to be sampled to construct a 99% interval with a margin of error equal to 3% to estimate the proportion.

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Answer #1

We know that 99% CI for true proportion is given by:


We want to find 'n' such that

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