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You work for a credit bureau and have access to all of their records. You have...

You work for a credit bureau and have access to all of their records. You have been asked to estimate the percentage of Kentucky citizens who carry at least $1000 in credit card debt from month to month. To simplify your estimation process, you decide that you will randomly select several zip codes and examine all consumers listed under each of those zip codes. There are 945 zip codes in the Kentucky, and the population of the state is approximately 4.49 million. Using 1 million as reasonable guess at the zip-code to zip-code variance, how many zip codes must be sampled in order to estimate this value within 3%? (Show your calculation, either here or in EXCEL)

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