[Step-by-Step] Historically, it is thought that about 80% of all airline flights are on time. Assuming this figure is accurate, how many flights should be
Question: Historically, it is thought that about 80% of all airline flights are on time. Assuming this figure is accurate, how many flights should be observed in order to estimate the proportion of on-time flights to within 3 percentage points (that is, within +/- 0.03) with 98% confidence? Show your work.
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