In a study of government financial aid for collegestudents, it becomes necessary to estimate the percentage offull-time college students who earn abachelor's degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.02

0.02 margin of error and use a confidence level of 99

99%. Complete parts(a) through(c) below.

a. Assume that nothing is known about the percentage to be estimated.

nequals

=

nothing

(Round up to the nearestinteger.)

b. Assume prior studies have shown that about 40

40% offull-time students earnbachelor's degrees in four years or less.

nequals

=

nothing

(Round up to the nearestinteger.)

c. Does the added knowledge in part(b) have much of an effect on the samplesize?

A.

Yes, using the additional survey information from part(b) dramatically reduces the sample size.

B.

Yes, using the additional survey information from part(b) only slightly increases the sample size.

C.

No, using the additional survey information from part(b) does not change the sample size.

D.

No, using the additional survey information from part(b) only slightly reduces the sample size.