18. According to historical data, over 50% of all food franchises earn a profit of less than $50,000 a year. In a sample of 100 casual dining restaurants, 62 earned a profit of less than $50,000 last year. Provide a 98% confidence interval for the proportion of casual dining restaurants that earned a profit of less than $50,000 last year. (A) [0.5018, 0.7382] (D) [0.5069, 0.7331] (B) [0.5035, 0.7365] (C) [0.5053, 0.7347] (E) [0.5205, 0.7195] 19. In a survey, the planning value for the population proportion is p* =0.35. How large a sample should be taken to provide a 95% confidence interval with a margin of error of 0.05? (A) 349 (B) 350 (C) 1397 (D) 1398 (E) 1399 20. A sample of size 100 is selected from a large population with p=0.4. What is the standard error of the sample proportion P? (A) 0.0024 (B) 0.0049 (C) 0.0240 (D) 0.0400 (E) 0.0490