You are a marketing research analyst for the Hallmark Channel, and you have just been given the assignment of estimating the percentage of all American households that watched the Hallmark movie (A Time to Dance) last Sunday night. You have been told that your estimate should have a precision of 1% and that you should be a 95% confident (Z = 1.96) in your estimate. You do not know the variability in the population. State any assumptions you make.

What is the sample size if the precision is 2 percentage points? (Show your work to the best of your ability.)