Question: In discussing the sample size required for obtaining a confidence interval with a prescribed confidence level and margin of error, we made the following statement:

In discussing the sample size required for obtaining a confidence interval with a prescribed confidence level and margin of error, we made the following statement: “If we have in mind a likely range for the observed value of pˆ, then, in light of Fig. 11.1, we should take as our educated guess for pˆ the value in the range closest to 0.5.” Explain why.

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