Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose we are interested in conducting research to find out the true mean of X, the weekly expenditure of households of four in a specific
Suppose we are interested in conducting research to find out the true mean of X, the weekly expenditure of households of four in a specific community. The standard deviation of X is known to be R175. In order for this information to be useful to policy makers, they need a figure which is accurate to within R50 of the true mean (with 99% confidence). Thus, the researchers need to ensure that they obtain information from ___ households.
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