Use the given information to find the minimum sample size required to estimate an unknown population mean μ. How many weeks of data must be randomly sampled to estimate the mean weekly sales of a new line of athletic footwear? We want 98% confidence that the sample mean is within $400 of the population mean, and the population standard deviation is known to be $1400.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
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Use the given information to find the minimum sample size required to estimate an unknown population mean μ.

How many weeks of data must be randomly sampled to estimate the mean weekly sales of a new line of athletic footwear?

We want 98% confidence that the sample mean is within $400 of the population mean, and the population standard deviation is known to be $1400.


 
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