Estimate the sample size needed to estimate a mean to within $135 with 99% confidence if...

Question

Question

Estimate the sample size needed to estimate a mean to within $135 with 99%
confidence if the standard deviation is $579.

math Statistics-And-Probability

Answer 1

Answer #1

Solution :

Given that,

Population standard deviation = = 579

Margin of error = E = 135

At 99% confidence level

= 1 - 99%

= 1 - 0.99 =0.01

/2 = 0.005

Z/2 = Z0.005 = 2.576

sample size = n = [Z/2* / E] 2

n = [ 2.576 * 579 / 135]2

n = 122.06

Sample size = n = 123

Answer 2

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