Need equation for below

Mathematics
Tutor: None Selected Time limit: 1 Day

  1. Assume the branch manager requested estimates of the mean selling price of Gulf View condominiums with a margin of error of $40,000 and the mean selling price of No Gulf View condominiums with a margin of error of $15,000. Using 95% confidence, how large should the sample sizes be for each?
Oct 21st, 2015

Thank you for the opportunity to help you with your question!

Confidence level = 95%

z= 1.96

s=192517.75

E=Z*s/√n = 40000

n = (1.96*192517.75/40000)^2 = 88.99

The minimum sample size is 90

GULF VIEW CONDOMINIUMS

Confidence level = 95%

z= 1.96

s=43891.72

E=Z*s/√n = 15000

n = (1.96*43891.72/15000)^2 = 32.89

The minimum sample size is 33


Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 21st, 2015

Thank you so much!  One quick question.  How did you find "s"

Oct 21st, 2015

S is in the tables.

Oct 21st, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Oct 21st, 2015
...
Oct 21st, 2015
Dec 9th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer