Homework Help: Statistics

Posted by LINDA on Tuesday, March 13, 2007 at 3:09pm.

Part 2 - The president of the company is uncomfortable with the precision of the estimates derived for the sample mean. They are not willing to tolerate a very large error. e = .04, how large would the sample size have to be if they specify a 98% confidence level?

Formula:
n = [(z-value * sd)/E]^2

Note: n = sample size, z-value will be 2.33 using a z-table to represent the 98% confidence interval, sd = standard deviation, E = 0.04, ^2 means squared, and * means to multiply.

Plug known values into the formula and finish the calculation. Round your answer to the next highest whole number.

I hope this will help.

No one has answered this question yet.

Answer this Question

Related Questions

Statistics - part 2 - An entertainment company owns and operates movie theaters ...
Statistics - part 2 - An entertainment company owns and operates movie theaters ...
Statistics - Waste Today Services operates a garbage hauling company in a South ...
statistics - Waste Today Services operates a garbage hauling company in a South ...
Statistics - An insurance company estimates 40 percent of its claims have errors...
statistics - What are the sample median and the mode for males? The sample mean ...
statistics - What are the sample median and the mode for males? The sample mean ...
stats - 4. Data from the 2008 General Social Survey (GSS) sample show that the ...
Statistics - For a population with a mean of (mew) = 50 and a standard deviation...
statistics - a final exam in statistics has a mean of 73 with a standard ...

For Further Reading

First Name:
School Subject:
Answer: