An economist would like to estimate the mean amount of money that a family spends to within $82. If the amount spent by a family is considered to be normally distributed with a standard deviation of $490, what sample size would be necessary to be 96% confident?

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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An economist would like to estimate the mean amount of money that
a family spends to within $82. If the amount spent by a family is
considered to be normally distributed with a standard deviation of
$490, what sample size would be necessary to be 96% confident?
Transcribed Image Text:An economist would like to estimate the mean amount of money that a family spends to within $82. If the amount spent by a family is considered to be normally distributed with a standard deviation of $490, what sample size would be necessary to be 96% confident?
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