The mean amount of the 1,560 mortgages taken out in Vienna, Austria, in the past year must
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The mean amount of the 1,560 mortgages taken out in Vienna, Austria, in the past year must be estimated. Based on previous experience, a real estate broker knows that the population standard deviation is likely to be about €25,000. If a 95% confidence interval for the population mean is to extend €2,500 on each side of the sample mean, how many sample observations are needed if a simple random sample is taken?
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Statistics For Business And Economics
ISBN: 9781292315034
9th Global Edition
Authors: Paul Newbold, William Carlson, Betty Thorne
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