You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the pr

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You work for a marketing firm that has a large client in theautomobile industry. You have been asked to estimate the proportionof households in Chicago that have two or more vehicles. You havebeen assigned to gather a random sample that could be used toestimate this proportion to within a 0.03 margin of error at a 90%level of confidence. a) With no prior research, what sample sizeshould you gather in order to obtain a 0.03 margin of error? b)Your firm has decided that your plan is too expensive, and theywish to reduce the sample size required. You conduct a smallpreliminary sample, and you obtain a sample proportion of ˆ p =0.185 . Using this new information. what sample size should yougather in order to obtain a 0.03 margin of error?