Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The manager of a newly opened book store wants to estimate the average expenditure of his customers using a confidence interval. He estimates that the
The manager of a newly opened book store wants to estimate the average expenditure of his customers using a confidence interval. He estimates that the population standard deviation is approximately $20.00.
a) For a 99% confidence level, find the appropriate sample size necessary to achieve a margin of error of 4.00.
determine za/2=
The required sample sizen is
b.)For a 95% confidence level, find the appropriate sample size necessary to achieve a margin of error of 4.00.
Determine z a/2=
The required sample sizen is
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