A newspaper conducted a statewide survey concerning the 1996 race for state senator. The newspaper took a random sample of 1200 registered voters and found that 620 would vote for the Democratic candidate. Let p represent the proportion of registered voters in the state that would vote for the Republican candidate.
How large a sample n would you need to estimate p with a margin of error 0.01 with 95% confidence? (Use the guess p = 0.5 as the value for p)
A. N = 9615
B. N = 49
C. N = 1500
D. N = 4800
E. N = 5000