You want to study housing costs in the country by sampling recent house sales in various (

Question:

You want to study housing costs in the country by sampling recent house sales in various

( representative) regions. Your goal is to provide a 95% confidence interval estimate of the housing cost. Previous studies suggest that the population standard deviation is about $7,200. What sample size (at a minimum) should be used to ensure that the sample mean is within

a. $500 of the true population mean?

b. $100 of the true population mean?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistical Reasoning For Everyday Life

ISBN: 9780321904645

4th International Edition

Authors: Jeffrey Bennett, William L. Briggs, Mario F. Triola

Question Posted: