Statistics questions

label Statistics
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Mar 6th, 2015

First, find the critical value of Z for a 90% confidence interval:

Norm.inv ( 0.95, 0, 1 ) = 1.64

Standard deviation is sqrt(variance) = sqrt(5.76) = 2.40

Remember that the margin of error will be given by Z_crit x standard error:

Margin of error  = 1.64 x sd/sqrt(n)

Rearrange in terms of n:

sqrt(n) = 1.64 x sd / Margin of error

n = [ 1.64 x 2.40 / 0.11 ] ^2

= 1288


Mar 6th, 2015

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