Question: Please state the formulas Exercise 3.1 You have been employed by an airline and given the task of estimating the per- centage of flights that

Please state the formulas

Please state the formulas Exercise 3.1 You have been employed by an

Exercise 3.1 You have been employed by an airline and given the task of estimating the per- centage of flights that arrive on time, i.e. no later than 20 minutes after the scheduled arrival time. How many flights should you survey in order to be 90% confident that your estimate is within four percentage points of the true population percentage? Solve this problem under each of the following assumptions: a) nothing is known about the percentage of on-time flights of your airline; b) for a previous year, 85% of all flights of your airline were on time (based on an official statistic from the government). Also state the formulas that you are using

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