Solved: Sample Size You have been hired by a college

Chapter 7, Problem 5

(choose chapter or problem)

Sample Size You have been hired by a college foundation to conduct a survey ofgraduates.a. If you want to estimate the percentage of graduates who have made a donation to the collegeafter graduation, how many graduates must you survey if you want 98% confidence thatyour percentage has a margin of error of five percentage points?b. If you want to estimate the mean amount of all charitable contributions made by graduates,how many graduates must you survey if you want 98% confidence that your samplemean is in error by no more than $50? (Based on results from a pilot study, assume that thestandard deviation of donations by graduates is $337.)c. If you plan to obtain the estimates described in parts (a) and (b) with a single survey havingseveral questions, how many graduates must be surveyed?