Suppose a survey of individuals between the ages of 24 and 74 indicated that 66% of Baby Boomers, 61% of Generation X, and 58% of Millennials expect IRAs to be their primary source of income in retirement. The margin of error was given as 5 percentage points.

1.Calculate 95% confidence interval for the proportion of Baby Boomers who expect IRAs to be their primary source of income in retirement.

2.Although the margin of error for the entire survey was listed, the sample size for each of the three generations was not given. Assuming the confidence level was 95%, determine the sample size for each of the three generations.