The Longmont Computer Leasing Company wishes to estimate the mean number of pages that will be printed
Question:
The Longmont Computer Leasing Company wishes to estimate the mean number of pages that will be printed in a month on its leased printers. The plan is to select a random sample of printers and record the number on each printer’s counter at the beginning of May. Then, at the end of May, the number on the counter will be recorded again and the difference will be the number of copies on that printer for the month. The company wants the estimate to be within {100 pages of the true mean with a 95% confidence level.
a. The standard deviation in pages printed is thought to be about 1,400 pages. How many printers should be sampled?
b. Suppose that the conjecture concerning the size of the standard deviation is off (plus or minus) by as much as 10%. What percent change in the required sample size would this produce?
Step by Step Answer:
Business Statistics
ISBN: 9781292220383
10th Global Edition
Authors: David Groebner, Patrick Shannon, Phillip Fry