The National Center for Education would like to estimate the proportion of students who defaulted on their student loans for the state of Arizona. The total sample size needed to construct a 95% confidence interval for the proportion of student loans in default with a margin of error equal to 4% is ________.
A) 336
B) 455
C) 416
D) 601

Question

Quizplus · Accepted Answer

To calculate the sample size for a proportion with a given margin of error, we use the formula n = (Z^2 * p * (1-p)) / E^2. Assuming p = 0.5 for maximum variability, Z = 1.96 for 95% confidence, and E = 0.04, the calculation results in approximately 601.

The National Center for Education Would Like to Estimate the Proportion