document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1025889>Question 1025889</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A well-known bank credit card firm wishes to estimate the proportion of credit card holders who carry a nonzero balance at the end of the month and incur an interest charge. Assume that the desire margin of error is 0.03 at 98% confidence. <BR>\n" );
document.write( "a) How large a sample should be selected if it is anticipated that roughly 70% of the firm’s card holders carry a nonzero balance at the end of the month?<BR>\n" );
document.write( "b) How large a sample should be selected if no planning value for the proportion could be specified?\r<BR>\n" );
document.write( "\n" );
document.write( "Answers:<BR>\n" );
document.write( "a) 1267<BR>\n" );
document.write( "b) 1509 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #641164 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=641164\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A well-known bank credit card firm wishes to estimate the proportion of credit card holders who carry a nonzero balance at the end of the month and incur an interest charge. Assume that the desire margin of error is 0.03 at 98% confidence. <BR>\n" );
document.write( "a) How large a sample should be selected if it is anticipated that roughly 70% of the firm’s card holders carry a nonzero balance at the end of the month?<BR>\n" );
document.write( "n = [2.3263/0.03]*0.7*0.3 <BR>\n" );
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document.write( "b) How large a sample should be selected if no planning value for the proportion could be specified?<BR>\n" );
document.write( "n = [2.3263/0.03]*(1/2)^2<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "================= <BR>\n" );
document.write( "Answers:<BR>\n" );
document.write( "a) 1267<BR>\n" );
document.write( "b) 1509  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );