Business Statistics FAST HELP!

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Assuming a population standard deviation of 3 hours, what is the required sample size if the error should be less than 0.2 hour with a 99% level of confidence?

Oct 31st, 2014

Formula: 
n = [(z-value * sd)/E]^2 
...where n = sample size, z-value will be 2.58 using a z-table to represent the 99% confidence interval, sd = 3, E = 0.5, ^2 means squared, and * means to multiply. 

Plug the values into the formula and finish the calculation. Round your answer to the next highest whole number.


Using a Z-value of 2.575, the answer is 238.7; or 240 if the answer is in multiple choice form. 

Oct 31st, 2014

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Oct 31st, 2014
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Oct 31st, 2014
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