Elected officials in a California city are preparing the annual budget for their community. They would like
Question:
a. What sample size is required to generate a 95% confidence interval for the mean annual real estate tax payment with a half-length of $100? Assume that the best estimate of the population standard deviation σ is $535.
b. If a random sample of the size from part a is selected and a 95% confidence interval for the mean is calculated from this sample, will the half length of the confidence interval be equal to $100? Explain why or why not.
c. Now suppose that the officials want to construct a 95% confidence interval with a half-length of $75. What sample size is required to achieve this objective? Again, assume that the best estimate of the population standard deviation σ is $535. Explain the difference between this result and the result from part a.
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Related Book For 
Data Analysis And Decision Making
ISBN: 415
4th Edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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