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You have been hired by Ford Motor Company to do market

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You have been hired by Ford Motor Company to do market research, and you must estimate the percentage (proportion) of households in which a vehicle is owned. What is the sample size of the households you must survey if you want to be 99% confident that your sample percentage has a margin of error of four percentage points?

a. Assume that a previous study suggested that vehicles are owned in 86% of households.

b. Assume that there is no available information that can be used to estimate the percentage of households in which a vehicle is owned.

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[Solved] You have been hired by Ford Motor Company to do market

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