*I have provided the answers to the multi-step question. I just need help determining part d and part e. I would REALLY appreciate your help.*

A recent article in The Economist reported on the decision by Zillow to "shut down its huge instant-buying, or i-buying, business, which uses big data and algorithms to make offers on homes in dozens of cities in America and then swiftly sells them on." According to a former Zillow employee, the company aimed to have 50% of its offers to be accepted. Suppose that Zillow made 100 offers to homeowners and 74 of them were accepted.

a. Construct a 99% CI estimate of the population proportion of Zillow's offers that are accepted.

- Answer: (0.654, 0.826)

b. Explain whether the algorithm currently used by Zillow yields an acceptance rate higher than the 50% rate that Zillow intended to have.

- Answer: Yes, the algorithm used by Zillow yields an acceptance rate higher than the 50% rate that Zillow intended to have. 50% is below the interval estimate (0.654, 0.826), therefore, we are 99% confident to expect a yield of more than 50%.

c. Compute the number of offers that Zillow would have to make so that the 99% CI estimate has a margin of error of 1%.

- Answer: n = 12,758 offers

Additional scenario: Suppose that Zillow made 14,000 offers in the third quarter of this fiscal year and 74% of these offers were accepted.

d. Without any calculation, explain why the margin of error for the 99% CI estimate of the population proportion of Zillow's offers that are accepted is at most 1%.

-Answer: ?

e. The price range that Zillow offers for each house is between 200K - 400K. Compute the minimum expense that was over Zillow's planned budget in the third quarter alone.

-Answer: ?