According to a 2017 Pew Research report, 40% of millennials have a BA degree. Suppose we take a random sample of 500 millennials and find the proportion who have a BA degree.

a. What value should we expect for our sample proportion?

b. What is the standard error?

c. Use your answers to parts a and b to complete this sentence: We expect _____% to have a BA degree give or take _____%.

d. Suppose we decreased the sample size from 500 to 100. What effect would this have on the standard error? Recalculate the standard error to see if your prediction was correct.