An economist would like to estimate the mean amount of money that a family spends to within $36. If the amount spent by a family is considered to be normally distributed with a standard deviation of $200, what sample size would be necessary to be 91% confident? Draw the graph

An economist would like to estimate the mean amount of money that a family spends to within $36. If the amount spent by a family is considered to be normally distributed with a standard deviation of $200, what sample size would be necessary to be 91% confident? Draw the graph

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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Question

An economist would like to estimate the mean amount of money that a
family spends to within $36. If the amount spent by a family is
considered to be normally distributed with a standard deviation of $200,
what sample size would be necessary to be 91% confident? Draw the graph.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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