3. (4 points) You are interested in estimating the proportion of people opening savings

accounts p after receiving information on personal finance.

(a) (2 points) Based on previous studies, you expect the proportion to be close to 0.35.

Calculate the number of people necessary to get an estimate that has a margin

of error of 0.05 with levels of confidence 99.0% and 90.0%. Round to the closest

integer. Also, say what would happen if you consider that the proportion is 0.5

(b) (2 points) Assume that your estimate was p = 0.6 in a sample of 100. What values

of p would you not consider plausible at 90%, 95% and 99%?