Annual dues for the Mathematical Association of America were $3 in 1916. They were $175 in 2023.
a) Based on the inflation rate, how much would the $3 dues in 1916 be in 2023 dollars?
Round to the nearest dollar. (Hint: The answer isn’t $175)
b) In 2023, after adjusting for inflation (your answer to part a), what was the absolute change for the dues compared with the actual price?
Note: the answer is not $175-$3 = $172
c) In 2023 (your answer to part a), what was the relative change for the dues compared with the actual price? Round to the nearest percent.
Note: the answer is not ($175-$3)/$3=57.33 = 5733%
d) In your opinion, which measure of change is most meaningful, and why?

Answers

Answer 1

a) Based on the inflation rate, the $3 dues in 1916 would be worth $57.39 in 2023 dollars.
b) In 2023, after adjusting for inflation, the absolute change for the dues was $117.61.
c) In 2023, after adjusting for inflation, the relative change for the dues was  204.84%, rounded to the nearest percent.
d) The relative change is most meaningful, as it is the easiest to interpret. It shows the percentage of the dues increase over the time period, which gives a clear indication of the rate of inflation.

a) To find the value of the $3 dues in 1916 in 2023 dollars, we need to use the formula for inflation:

FV = PV(1 + r)^t

where FV is the future value, PV is the present value, r is the inflation rate, and t is the number of years.

Assuming an average inflation rate of 3% per year, we can plug in the values and solve for FV:

FV = 3(1 + 0.03)^(2023-1916)

FV = 3(1.03)^107

FV = 3(19.13)

FV = $57.39

So, the $3 dues in 1916 would be worth $57.39 in 2023 dollars.

b) To find the absolute change for the dues compared with the actual price, we need to subtract the value of the dues in 1916 in 2023 dollars from the actual price in 2023:

Absolute change = $175 - $57.39 = $117.61

c) To find the relative change for the dues compared with the actual price, we need to divide the absolute change by the value of the dues in 1916 in 2023 dollars and multiply by 100 to get a percentage:

Relative change = ($117.61/$57.39) * 100 = 204.84%

d) In my opinion, the relative change is the most meaningful measure of change because it takes into account the value of the dues in 1916 in 2023 dollars and shows how much the dues have increased relative to their original value. The absolute change only shows the difference in dollar amounts, but does not account for the effects of inflation.

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Related Questions

Describe how to map figure J onto
Figure L, complete the statement

Answers

5 units down to match figure L! Hope this helps :)

Calculate the next term in the arithmetic sequence that
increases by 21, if the current term is 55.
What is the next term if the first two terms of a
Fibonacci sequence are 2, 25?
Find the 72th term o

Answers

3525

The next term in the arithmetic sequence that increases by 21, starting at 55, is 76. The next two terms of the Fibonacci sequence are 67 and 109, and the 72nd term is 3525.

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If I have a probability distribution of the number of TV's people have in their house (possible values from 0 to 5) and I want to find the probability that a randomly selected person has at least 2 TVS, 1 would write and calculate that as follows: a. PO>2)=P(3)=P(4)=P(5) b. PIX<2)=P(0)=P(1) c. PIX 2) P(0)+P(1)*P(2) d. PIX 22)- P(2)*P(3)*P(4)=P(5)

Answers

P(X ≥ 2) = P(X > 2) + P(X = 2)

To calculate the probability that a randomly selected person has at least 2 TV's, you would first calculate the probability of a person having more than 2 TV's:


 P(X > 2) = P(3) + P(4) + P(5)

Then, you would calculate the probability of a person having less than 2 TV's:


 P(X < 2) = P(0) + P(1)

Finally, you would calculate the probability of a person having exactly 2 TV's:


 P(X = 2) = P(0) + P(1) + P(2) – P(2) x P(3) x P(4) x P(5)

Therefore, the probability that a randomly selected person has at least 2 TV's is:

P(X ≥ 2) = P(X > 2) + P(X = 2)

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A drawing of a 78-foot long building was built using a scale of 1in:8ft. What is the length of the drawing??

Answers

Answer:

Step-by-step explanation:

Given: Length of the building = 78 ft

Scale = 1 in : 8 ft

To find: Length of the building in the drawing

Now we have the scale where

8 ft = 1 inch

So using unit rule

1 ft = (1/8) in

So

78 ft = (1/8)(78) in = 9.75 inch

So length of the building in the drawing is 9.75 inch.

The length of the drawing is 9.75 inches.

To calculate the length of the drawing, find out how many inches correspond to 78 feet using the scale provided.

Since the scale is 1in:8ft, this means that 1 inch on the drawing represents 8 feet in real life.

To determine the length of the drawing, divide the length of the building by the scale factor:

Length of drawing = Length of building / Scale factor

Length of drawing = 78 ft / 8

Length of drawing = 9.75 inches

Hence, the drawing is 9.75 inches long.

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pls help with my homework

Answers

The area of the trapezoid is 65.16 metres squared.

How to find the area of a trapezoid?

The area of a trapezoid can be found as follows:

area of a trapezoid = 1 / 2 (a + b)h

where

a = top baseb = bottom baseh = height of the trapezoid

Therefore,

a = 5metres

b = 13.1 metres

h = 7.2 metres

Hence,

area of a trapezoid = 1 / 2 (5 + 13.1) 7.2

area of a trapezoid = 1 / 2 (18.1)7.2

area of a trapezoid = 130.32 / 2

Therefore,

area of a trapezoid = 65.16 metres squared

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For any invertible matrix BEM nxn(K), define a function TB: Mnxn(K) → M nxn(K) by
TB (A) = BAB-¹,
where A EM nxn(K). Prove that TB is an isomorphism.

Answers

TB is both one-to-one and onto, it is an isomorphism.

To prove that TB is an isomorphism, we need to show that it is both one-to-one and onto.

One-to-one: Assume TB(A) = TB(C) for some A, C EM nxn(K). Then, BAB-¹ = CBC-¹. Multiplying both sides by B-¹ on the left and B on the right gives B-¹BAB = B-¹CBC. Since B is invertible, B-¹B = I and we have A = C. Therefore, TB is one-to-one.

Onto: Let D EM nxn(K). Then, we can define A = B-¹DB. Since B is invertible, A EM nxn(K) and TB(A) = BAB-¹ = B(B-¹DB)B-¹ = D. Therefore, TB is onto.

Since TB is both one-to-one and onto, it is an isomorphism.

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Consider the equation x^(2)+bx+9=0 where b is a real number. Enter a value for b so that the equation has no real solutions.

Answers

This inequality will be true when b is between -6 and 6. So any value of b in this range will result in no real solutions for the equation. For example, we could choose b=4, and the equation would have no real solutions.

To find a value for b that results in no real solutions for the equation x^(2)+bx+9=0, we need to use the discriminant. The discriminant is the part of the quadratic formula under the square root sign: b^(2)-4ac. If the discriminant is less than 0, the equation will have no real solutions.

In this case, a=1, b=b, and c=9. Plugging these values into the discriminant gives us:

b^(2)-4(1)(9)=b^(2)-36

We want this to be less than 0, so:

b^(2)-36<0

We can solve this inequality by factoring:

(b+6)(b-6)<0

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Jason creates a scaled map of his hometown on a standard (x,y) coordinate plane. Each unit on the map represents 1 mile. He graphs his house at the point (-4,-5) andhis school at the point (-10,-11). Which of the following is closest to the distance, in miles, between Jason's school and his house?

Answers

The distance between Jason's school and his house is 8 miles.

What is the Cartesian system?

Any point can be located using a Cartesian coordinate system or coordinate system, and that point can be plotted as an ordered pair (x, y) known as Coordinates. The origin, symbolized by the letter "O," is the point where the two number lines intersect. The horizontal number line is known as the X-axis, and the vertical number line is known as the Y-axis.

Given that the coordinates of Jason's house is (-4,-5). The coordinates of his school is  (-10,-11).

The formula distance between two points (x₁, y₁) and (x₂, y₂) is √[(x₂ - x₁)² + (y₂ - y₁)²].

Here, x₁ = -4, y₁ = -5,x₂= -10, y₂ = -11

The distance between points is

√[(-10-(-4))² + (-11 - (-5))²]

=√(6² + 6²)

= √(36+36)

= √72

= 6√2

= 8.48

≈ 8 miles

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The value of λ and μ for which the system of equations x+y+z=6,x+2y+3z=10 and x+2y+λz=μ have no solution, are
Aλ=3,μ=10
Bλ=3,μ=10
Cλ=3,μ=10
DNone of these

Answers

The value of λ and μ for which the system of equations x+y+z=6,x+2y+3z=10 and x+2y+λz=μ  are none of this. The correct answer is option D, None of these.

To find the value of λ and μ for which the system of equations has no solution, we can use the determinant method. The determinant of a system of equations is given by:

| a1 b1 c1 |
| a2 b2 c2 | = a1(b2c3 - b3c2) - b1(a2c3 - a3c2) + c1(a2b3 - a3b2)
| a3 b3 c3 |

For the given system of equations, the determinant is:

| 1 1 1 |
| 1 2 3 | = 1(2λ - 3μ) - 1(3 - 3) + 1(2 - 2)
| 1 2 λ |

Simplifying, we get:

2λ - 3μ = 0

For the system of equations to have no solution, the determinant must be equal to 0. Therefore, we need to find the values of λ and μ that satisfy the equation 2λ - 3μ = 0.

None of the given options satisfy this equation, therefore the correct answer is option D, None of these.

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Identify the domain and range of (f(x)=4[(x-2)^(1/2)]-8 To type in your answer, type the domain first, then a comma and space, and finally the range.

Answers

The domain of the function f(x) = 4[(x-2)^(1/2)]-8 is the set of all real numbers x such that x ≥ 2.

This is because the expression (x-2)^(1/2) is only defined for x ≥ 2. The range of the function is the set of all real numbers y such that y ≥ -8. This is because the expression 4[(x-2)^(1/2)]-8 is always greater than or equal to -8 for all values of x in the domain.

So, the domain and range of the function f(x) = 4[(x-2)^(1/2)]-8 are:
Domain: [2, ∞)
Range: [-8, ∞)

In conclusion, the domain and range of the function f(x) = 4[(x-2)^(1/2)]-8 are [2, ∞), [-8, ∞).

The domain of the function f(x) = 4[(x-2)1/2]-8 is the set of all real numbers x such that x ≥ 2. This is because the expression (x-2)1/2 is only defined for x ≥ 2. The range of the function is the set of all real numbers y such that y ≥ -8. This is because the expression 4[(x-2)1/2]-8 is always greater than or equal to -8 for all values of x in the domain.

So, the domain and range of the function f(x) = 4[(x-2)1/2]-8 are:

Domain: [2, ∞)

Range: [-8, ∞)


In conclusion, the domain and range of the function f(x) = 4[(x-2)1/2]-8 are [2, ∞), [-8, ∞).

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5000 people visit mueum during a month how many visitors were there for each age group. 18 and under, age 19 to 44, 45 to 64, age 65 and over

Answers

The number of degrees for each part of the museum visitors graph would be Age 18 and under: 108 degrees, Age 19 – 44: 180 degrees, Age 45 – 64: 54 degrees, and Age 65 and over: 18 degrees.

To find the number of degrees for each part of the museum visitors graph, we need to know the total number of visitors for that month. Let's assume that the total number of visitors for the month is 10,000.

Age 18 and under:

Let's assume that the number of visitors aged 18 and under is 3,000. To find the number of degrees for this section of the graph, we need to use the formula: (Number of visitors in the age group / Total number of visitors) x 360 degrees. So, (3000/10000) x 360 = 108 degrees.

Age 19 – 44:

Let's assume that the number of visitors aged 19-44 is 5,000. Using the same formula as above, we get (5000/10000) x 360 = 180 degrees.

Age 45 – 64:

Let's assume that the number of visitors aged 45-64 is 1,500. Using the same formula as above, we get (1500/10000) x 360 = 54 degrees.

Age 65 and over:

Let's assume that the number of visitors aged 65 and over is 500. Using the same formula as above, we get (500/10000) x 360 = 18 degrees.

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What is the approximate measure of the central angle that is created by an arc of (32pi)/9 units in a circle with a radius of 7 units?

the options are

A- 156
B-91
C-26
D-11

Answers

D= 26 is the answer hope u got it

Mr. Whyte buys a new television. He pays down a payment of $99 and promises to make 12 monthly payments of $75. What is the total cost of the television?​

Answers

Answer:$999

Step-by-step explanation:

You are going to want to multiply 75 by 12 since you are giving 75 dollars 12 times- then you are going to add $99 for the down payment- and you’ve got your answer!

Answer:

999

Step-by-step explanation:

of means "x"

12 monthly payments of $75

12 x 75 = total for 12 payments

then add down-payment

u get total cost

ind the difference and write the resulting polynom (19x^(4)-17x-18)-(12x^(4)-8x+5)

Answers

The difference of the two polynomials is 7x^(4) - 9x - 23.

The difference of the two polynomials (19x^(4)-17x-18)-(12x^(4)-8x+5) can be found by subtracting the corresponding terms of the two polynomials.

Subtract the first term of the second polynomial from the first term of the first polynomial: 19x^(4) - 12x^(4) = 7x^(4)

Subtract the second term of the second polynomial from the second term of the first polynomial: -17x - (-8x) = -17x + 8x = -9x

Subtract the third term of the second polynomial from the third term of the first polynomial: -18 - 5 = -23

Write the resulting polynomial by combining the terms  7x^(4) - 9x - 23

Therefore, the difference of the two polynomials is 7x^(4) - 9x - 23.

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Rowan is training to run in a race. He runs 15 miles in the first week, and each week following, he runs 3% more than the week before. Using a
geometric series formula, find the total number of miles Rowan runs over the first ten weeks of training, rounded to the nearest thousandth.

Answers

The total number of miles Rowan runs over the first ten weeks of training is found as 58 miles.

Explain about the geometric series?

In mathematics, a geometric series is an infinite series with the formula a + ar + ar2 + ar3 +, where r is referred as the common ratio.

In the question:

Rowan is preparing for a race by running. He runs 15 miles the first week, and then he runs 3% more each week after that.

Let 'x' be the miles that Rowan runs in 1st week.

Xn for the nth week.

x1 = 15 (given)

x2 = 15*(1 + 3%) = 15*1.03

Xn = 15*(1 + 3%0ⁿ⁻¹ = 15*(1.03ⁿ⁻¹)

Let 'S' be the total miles.

S = x1 + x2+ .....+ xn

S = 15 + 15 *1.03 + 15*1.03² + ...+ 15*1.03⁹

On solving the series:

S = 15 × 1.(1.03¹⁰ - 1)/0.03

S = 57.31

S = 58

Thus, the total number of miles Rowan runs over the first ten weeks of training is found as 58 miles.

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Can someone explain how to do this? I'm confused. Anything helps.
Thank you so much!

Answers

Answer:

28 and 152 degrees

Step-by-step explanation:

Using sine inverse, the answer is 28 or 152 degrees.

Answer:48.87°

Step-by-step explanation:

The table below shows a cumulative frequency
distribution of runners' ages.

Cumulative Frequency Distribution
of Runners' Ages

Age Group. Total
20-29 8
20-39 18
20-49 25
20-59 31
20-69 35

According to the table, how many runners are in
their forties?

1) 25
2) 10
3) 7
4) 6

Answers

The cumulative frequency distribution shows that there are 25 runners in the age group of 20-49, and 8 runners in the age group of 20-29. Therefore, the number of runners in their forties can be calculated by subtracting the number of runners in their 20s from the number of runners in the age group of 20-49:

Number of runners in their 40s = (Total number of runners in age group 20-49 - Total number of runners in age group 20-39) =( 25 - 18) = 7

Therefore, there are 7 runners in their forties.

Suppose g(x)=x+3/2. Evaluate g(g(1)) and g(g(g(1)))

Answers

Answer: g(g(1)) = 4 and g(g(g(1))) = 5 1/2

Step-by-step explanation:

We will first find g(1). To do so, we plug 1 in for x.

g(1) = (1) + 3/2 = 5/2 = 2 1/2

To find g(g(1)) we will plug in 5/2 for x.

g(g(1)) = (5/2) + 3/2 = 8/2 = 4

To find g(g(g(1))) we will plug in 4 for x.

g(g(g(1))) = (4) + 3/2 = 11/2 = 5 1/2

Hope this helps!

The above rollercoaster graph needs a function to go with it. Select the correct functions that begins at (0,12) and ends at (12,0) with a local minimum at (5,1) and a local maximum at (9,6). You need to select one function for the red piece, one function for the green piece, and one function for the purple piece.

Answers

The following values represent the rollercoaster graph scenario most accurately:

is, Red (x) = 6+4 × cos(πx/6) if 0 ≤ x < 6

Green (x) = -2.5 × cos (π(x - 6)/4) + 4.5

Purple (x) = 3.5 - 3.5 × sin (π(x - 12.5)/5)

For Red (x) = 6 + 4 × cos(πx/6) if 0 ≤ x < 6

Define graphs?

The graph is simply a structured representation of the data. It facilitates our understanding of the facts. The numerical information gathered through observation is referred to as data.

The Latin word Datum, which meaning "something provided," is where the word data first appeared.

In the question, where at x = 0, Red(x) = 10,

at x = 5, Red(x) = 2.5

For Green (x) = -2.5 × cos (π(x - 6)/4) + 4.5       if    6 ≤ x < 10

Given, where at x = 10, Green (x) = 7,

So, at x = 6, Green (x) = 2.0

For Purple (x) = 3.5 - 3.5 × sin (π(x - 12.5)/5) if 10 ≤ x ≤ 15

Given, where at x = 10, Purple (x) = 7,

at x = 15, Purple (x) = 0

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The complete question is:

The above rollercoaster graph needs a function to go with it. Select the correct functions that begins at (0,12) and ends at (12,0) with a local minimum at (5,1) and a local maximum at (9,6). You need to select one function for the red piece, one function for the green piece, and one function for the purple piece.

I NEED HELP ON THIS ASAP!!!

Answers

Step-by-step explanation:

Refer to pic...........

Lora's phone records data for screen time each week. Last week, she used 750 minutes. This week, Lora used 495 screen time minutes on the phone. Calculate the percent decrease in screen time this week.

27%
34%
40%
52%

Answers

Answer:

34%

Step-by-step explanation:

495 is 66% of 750 so 66% - 100% is 34%

Answer:

34

Step-by-step explanation:

Use the table to complete the statements.
A 2-column table with 6 rows. The first column is labeled x with entries negative 3, negative 2, negative 1, 0, 1, 2. The second column is labeled f of x with entries 50, 0, negative 6, negative 4, negative 6, 0.

The x-intercepts shown in the table are _____
and ______.

The y-intercept shown in the table is _______.

Answers

Answer:

-2, 2

-4

Step-by-step explanation:

The x-intercept is the point where the graph crosses the x-axis. At that point, the y-coordinate equals zero. At the x-intercept, f(x) = 0.

Look below f(x) and find where f(x) = 0. Which x values correspond to f(x) = 0?

There are two x values: x = -2, and x = 2

The x-intercepts shown in the table are -2 and 2.

The y-intercept is the point where the graph crosses the y-axis. At that point, the x-coordinate equals zero. At the y-intercept, x = 0.

Look below x and find where x = 0. Which f(x) value corresponds to x = 0?

There is one f(x) value: f(x) = -4

The y-intercept shown in the table is -4.

Helppppppppppppppppppppp

Answers

Answer:   3. 200ft  4. 21ft

5. 37.5m  6. h=4.2ft

Step-by-step explanation:

Use ELIMINATION to solve for (x) and (y). 2y=x-5 2y=x+5 x+2y=13 -x+4y=11 Upload a file that shows each step to solve for (x) and (y).

Answers

The solution to the system of equations using elimination is:

x = 1058/1890

y = 26/90

To solve this system of equations using elimination, we will add the two equations together and rearrange the terms.

2y = x - 5

2y = x + 5

Add the equations together:

2y + 2y = x - 5 + x + 5

4y = 2x + 0

Rearrange the terms:

4y - 2x = 0

We will now use this equation and the equation x + 2y = 13 to solve for x and y.

Substitute 4y - 2x = 0 into x + 2y = 13:

x + 2(4y - 2x) = 13

x + 8y - 4x = 13

Rearrange the terms:

5x + 8y = 13

Substitute 4y - 2x = 0 into 5x + 8y = 13:

5x + 8(4y - 2x) = 13

5x + 32y - 16x = 13

Rearrange the terms:

21x + 32y = 13

Divide by 21:

x + (32/21)y = 13/21

Rearrange the terms:

x = 13/21 - (32/21)y

Substitute x = 13/21 - (32/21)y into 4y - 2x = 0:

4y - 2(13/21 - (32/21)y) = 0

4y - (26/21) + (64/21)y = 0

Rearrange the terms:

(90/21)y = 26/21

y = (26/21) / (90/21)

y = 26/90

Substitute y = 26/90 into x = 13/21 - (32/21)y:

x = 13/21 - (32/21)(26/90)

x = 13/21 - (832/1890)

x = 1058/1890

The solution to the system of equations is:

x = 1058/1890

y = 26/90

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What is one tenth less than 9?

8.99
8.9
8.09
8.0

Answers

Answer:

8.9

Step-by-step explanation:

9.0-0.1= 8.9

which is one-tenth less than 9

The average weekly spending of students in ABC University follow a normal distribution. It is known that 10% of the students spend more than $50 per week, while 30% spend more than $48 weekly. How do we find the mean and standard deviation of this distribution?

Answers

To find the mean and standard deviation of the distribution, we can use the z-scores for the given percentages and the corresponding spending amounts.  The mean of the distribution is $46.63 and the standard deviation is $2.63.

By using the z-scores for the specified percentages and related spending amounts, we can determine the mean and standard deviation of the distribution. The z-score for 10% is 1.28 and the z-score for 30% is 0.52. Using the formula

z = (x - mean)/standard deviation, we can set up two equations:



1.28 = ($50 - mean)/standard deviation

0.52 = ($48 - mean)/standard deviation

We can rearrange the equations to solve for the mean and standard deviation:

mean = $50 - (1.28)(standard deviation)

mean = $48 - (0.52)(standard deviation)

Subtracting the second equation from the first gives us:

0 = $2 - (0.76)(standard deviation)

Solving for standard deviation gives us:

standard deviation = $2/0.76 = $2.63

Plugging this back into the first equation gives us:

mean = $50 - (1.28)($2.63) = $46.63

Therefore, the mean of the distribution is $46.63 and the standard deviation is $2.63.

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The measure of an angle is 19.5°. What is the measure of its complementary angle?

Answers

Answer:

70.5

In Maths, two angles are said to be complementary, when the angles add up to 90 degrees. The complementary angle need not be adjacent to each other, but its sum should be equal to 90 degrees. For example, 47° and 43° are complementary angles.

Example:

To find out another angle if one of the complementary angles is 60°

Solution:

We know that the sum of complementary angles is 90

Let the unknown angle be x

Thus,

60° + x = 90°

X = 90° – 60°

X = 30°

Hence, the unknown angle is 30°

The reciprocal of 5/11 is:

The reciprocal of 20 is:

Answers

The reciprocal of 5/11 is: 11/5

The reciprocal of 20 is: since 20=20/1 so the reciprocal is 1/20

Answer: 11/5, 1/20

Step-by-step explanation:

The reciprocal of a value is the numerator and denominator of that value switched.

When you look at 5/11, we see that 5 is the numerator and 11 is the denominator. The reciprocal(switch numerator and denominator) is 11/5.

The reciprocal of 20 can be tricky because it isn't written with a denominator. But we know intuitively that 20 is also equal to 20/1.

Therefore we apply the same steps as in the first instance and we get that the reciprocal of 20/1 is 1/20.

Need help to complete the proof.

Y is the midpoint of UW. Prove △VWY ≅ △XUY. Arrange the following reasons to complete the proof.

Reasons: Given, Given, Definition of midpoint, ASA, Vertical Angle Theorem

Answers

Here is the arranged proof:

Given: Y is the midpoint of UW.
Given: ∠VWY ≅ ∠UXY (Vertical Angle Theorem)
Definition of midpoint: Y is equidistant from U and W.
ASA: △VWY ≅ △XUY (By ASA, since Y is equidistant from U and W, and ∠VWY ≅ ∠UXY)

Therefore, △VWY ≅ △XUY is proved.

(b) Suppose you wanted to estimate the true proportion of all student loan borrowers who have loans

totaling more than $40,000 with 95% confidence to within 1%. Calculate the sample size you would

need. Use the sample proportion to estimate the population proportion

Answers

The sample size that would be required to estimate the confidence interval with a margin of error of 1% is given as follows:

n = 9604.

What is a confidence interval of proportions?

A confidence interval of proportions has the bounds given by the rule presented as follows:

[tex]\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

In which the variables used to calculated these bounds are listed as follows:

[tex]\pi[/tex] is the sample proportion, which is also the estimate of the parameter.z is the critical value.n is the sample size.

The confidence level is of 95%, hence the critical value z is the value of Z that has a p-value of [tex]\frac{1+0.95}{2} = 0.975[/tex], so the critical value is z = 1.96.

The margin of error is modeled as follows:

[tex]M = z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

We have no estimate of the proportion, hence it is used as follows:

[tex]\pi = 0.5[/tex]

The margin of error is of M = 0.01, hence the sample size is obtained as follows:

[tex]0.01 = 1.96\sqrt{\frac{0.5(0.5)}{n}}[/tex]

[tex]0.01\sqrt{n} = 1.96 \times 0.5[/tex]

[tex]\sqrt{n} = 98[/tex]

n = 98²

n = 9604.

More can be learned about the z-distribution at https://brainly.com/question/25890103

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