You want to estimate the mean amount spent by customers at a local gas station with 98% confidence and a margin of error of no more than $2. Preliminary data suggests that the standard dev. is $5.1 is a reasonable estimate for the standard dev. for all customers. How large a sample do you need?

Question

You want to estimate the mean amount spent by customers at a local gas station with 98% confidence and a margin of error of no more than $2. Preliminary data suggests that the standard dev. is $5.1 is a reasonable estimate for the standard dev. for  all customers. How large a sample do you need?

wia · Accepted Answer

gah damn aint no one gonna answer her