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Asked Nov 7, 2019
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Looking  for problem 7

278/807F419B285448C3PQ/97accountid-
Find the appropriate minim um sample size.
7 You want to be 99% confident that the sample standard deviation s is within 5% of the population
standard deviation.
A) 923
D) 2,638
B) 2,434
C) 1,335
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278/807F419B285448C3PQ/97accountid- Find the appropriate minim um sample size. 7 You want to be 99% confident that the sample standard deviation s is within 5% of the population standard deviation. A) 923 D) 2,638 B) 2,434 C) 1,335

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Expert Answer

Step 1

The confidence level is provided as 99%. The level of significance = 1 – confidence level = 1 – 0.99 = 0.01. The margin of error, E is 5%, 0.05.

Using the standard normal table, the critical value for Zα/2 is 2.58.

Step 2

The minimum sample size can be determined by calculating the standard deviation and checking whether it lies in the confidence interval for that particular sample size.

(A) Considering the sample size, 923

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n E 2 Fo0120 0.05 923= 2.580 923 0.05 a0.5887

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Step 3

(B) Considering the sa...

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Fa/20 п E F0.01/20 2434= 0.05 2.580 2434 0.05 a0.9561

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