in order to prepare a production plan for the next buisness quarter, a purchasing agent needs to estimate the percentage of businesses that plan to buy office furnature in the next 90 days. How many randomly selected companies does she have to srvey to create an estimate in which we are 98% confident with a margin of 3%

The value is

Step-by-step explanation:

From the question we are told that

   The  margin of error is  

Here we will assume that sample proportion  of businesses that plan to buy office furniture in the next 90 days to  be  

From the question we are told the confidence level is  98% , hence the level of significance is    

=>  

Generally from the normal distribution table the critical value  of   is  

Generally the sample size is mathematically evaluated as

=>      

=>