Sample Size Using Range Rule of Thumb You want to estimate the mean amount of annual tuition
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Sample Size Using Range Rule of Thumb You want to estimate the mean amount of annual tuition being paid by current full-time college students in the United States.
First use the range rule of thumb to make a rough estimate of the standard deviation of the amounts spent. It is reasonable to assume that tuition amounts range from $0 to about
$45,000. Then use that estimated standard deviation to determine the sample size corresponding to 99% confidence and a $100 margin of error. Does the resulting sample size seem practical?
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Related Book For
Elementary Statistics Using Excel Pearson New
ISBN: 978-1292041766
5th Edition
Authors: Mario F Triola
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