Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A market specialist wants to estimate the average amount spent by visitors to an online retailer's site. from data in a preliminary study she estimates
A market specialist wants to estimate the average amount spent by visitors to an online retailer's site. from data in a preliminary study she estimates the standards deviation of the amount spent is about 14 dollars.
How large a sample should she take to estimate the mean amount spent within 4 dollars with 98% confidence? (rounf your answer up to the next largest integer).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started