Recently, a report in a financial journal indicated that the 90 percent confidence interval estimate for the proportion of investors who own one or more mutual funds is between 0.88 and 0.92. Given this information, the sample size that was used in this study was approximately 609 investors.

Question

Quizplus · Accepted Answer

The width of a confidence interval is influenced by the sample size, confidence level, and variability in the data. Given the narrow range of 0.88 to 0.92 for a 90% confidence interval, a sample size of approximately 609 is reasonable to achieve this precision.

Recently, a Report in a Financial Journal Indicated That the 90