Question
Use the margin of error E = $10, confidence level of 99%, and ó = $40 to find the minimum sample size needed to estimate an unknown population mean, .ì
Answers
MathGuru
Formula:
n = [(z-value * sd)/E]^2
...where n = sample size, z-value will be 2.58 for 99% interval, sd = 40, E = 10, ^2 means squared, and * means to multiply.
Plug the values into the formula and finish the calculation. Round your answer to the next highest whole number.
n = [(z-value * sd)/E]^2
...where n = sample size, z-value will be 2.58 for 99% interval, sd = 40, E = 10, ^2 means squared, and * means to multiply.
Plug the values into the formula and finish the calculation. Round your answer to the next highest whole number.