Question
In a particular year, the average student loan of students graduating from universities in a country was $40000. That year, 100 graduating students from one
In a particular year, the average student loan of students graduating from universities in a country was $40000. That year, 100 graduating students from one state were selected at random, and their student loans were recorded. The average student loan for these 100 students was found to be $38000 with a standard deviation of $4000.
If one is interested in a 95% confidence interval for the mean, with a desired margin of error of $1000, what is the minimum sample size needed for such an analysis?
Answer should be only in textual format and without any inserting table or image
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