Sample Size You have been hired by a consortium of local car dealers to conduct a survey about the… 1 answer below »

Sample Size You have been hired by a consortium of local car dealers to conduct a survey about the purchases of new and used cars.a. If you want to estimate the percentage of car owners in your state who purchased new cars (not used), how many adults must you survey if you want 95% confidence that your sample percentage is in error by no more than four percentage points?b. If you want to estimate the mean amount of money spent by car owners on their last car purchase, how many car owners must you survey if you want 95% confidence that your sample mean is in error by no more than $750? (Based on results from a pilot study, assume that the standard deviation of amounts spent on car purchases is $14,227.)c. If you plan to obtain the estimates described in parts (a) and (b) with a single survey having several questions, how many people must be surveyed?

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