A noted psychic was tested for extrasensory perception. Thepsychic was presented with 200 cards face down and asked todetermine if each card were one of five symbols: a star, a cross, acircle, a square, or three wavy lines. The psychic was correct in50 cases. Let p represent the probability that the psychiccorrectly identifies the symbol on the card in a random trial.Assume the 200 trials can be treated as a simple random sample fromthe population of all guesses the psychic would make in hislifetime. How large a sample n would you need to estimate p with amargin of error of 0.01 with 95% confidence?
