Suppose that an internal report submitted to the managers at a bank in Boston showed that with 95 percent confidence, the proportion of the bank's customers who also have accounts at one or more other banks is between .45 and .51. Given this information, what sample size was used to arrive at this estimate

The sample size used to compute the 95% confidence interval is 1066.

Step-by-step explanation:

The (1 - α)% confidence interval for population proportion is:

The 95% confidence interval for proportion of the bank's customers who also have accounts at one or more other banks is (0.45, 0.51).

To compute the sample size used we first need to compute the sample proportion value.

The value of sample proportion is:

Now compute the value of margin of error as follows:

The critical value of z for 95% confidence level is:

Compute the value of sample size as follows:

Thus, the sample size used to compute the 95% confidence interval is 1066.

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.