A consultant reviews a initial study on loan application processing time with an accuracy deviation ratio of 0.02 and a confidence interval of 99%. The sample mean is 5.5 minutes and a sample standard deviation of 2.7. Assume the maximum acceptable error to be 0.2. What should be the number of observations if a study to be conducted (don't round your answer)

a.1213.13

b.1640.25

c.4010.34

d.700.13

e.3279.78