Sajed is a MBA student studies audit quality he needs to determine the sample size of his study. He will use questionnaire as a data collection method, the respondent should have at least a postgraduate diploma. Based on a small survey he finds that the number of external auditor who has a postgraduate diploma is 16 out of 40 and the required margin of error is 5% and confidence level is 95%.

a)a. Calculate the sample size assuming that the size of the population is 5000 members.