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A group of marketing researchers study the expenditures on dinning out. They want to have a 95 percent confident level (Z) and accept a magnitude

A group of marketing researchers study the expenditures on dinning out. They want to have a 95 percent confident level (Z) and accept a magnitude of error (E) of less than $3.05. The estimate of the standard deviation is $27.5 based on their pilot study. What is the calculated sample size if they want to run a survey? Perform this calculation.

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