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You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population
You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation is approximately =31.2=31.2 dollars. You would like to be 98% confident that your estimate is within 10 dollar(s) of average spending on the birthday parties. How many parents do you have to sample?
Hint: Video [+]
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