In given Exercise, suppose Subway has carried out the study, using the sample size determined in that exercise, and 27.5% of the franchisees say they are pleased with their relationship with Subway. Construct and interpret the 95% confidence interval for the population percentage.
Exercise
There were 904 new Subway Restaurants franchises opened during 2002. Suppose that Subway wished to survey a simple random sample of the new franchisees to find out what percentage of them were totally pleased with their relationship with the company. If Subway wanted to have 90% confidence in being within 3 percentage points of the population percentage who are pleased, how many of the new franchisees would have to be included in the sample?