Question: Suppose that we plan to interview n randomly chosen individuals to estimate the unknown fraction p (0, 1) of the population that likes ice cream.

Suppose that we plan to interview n randomly chosen individuals to estimate the unknown fraction p (0, 1) of the population that likes ice cream. Let p = Sn n be the random variable that records the proportion of the individuals who say they do like ice cream. How many people must we interview to have at least a 95% chance of capturing the true fraction p with a margin of error .01?

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