Statistics questions

Statistics
Tutor: None Selected Time limit: 1 Day

Mar 7th, 2015

First, find the critical value of Z for a 98% confidence interval:

Norm.inv ( 0.99, 0, 1 ) = 2.33

Standard deviation is sqrt(variance) = sqrt(4) = 2

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

Margin of error  = 2.33 x sd/sqrt(n)

Rearrange in terms of n:

sqrt(n) = 2.33 x sd / Margin of error

n = [ 1.64 x 2 / 0.1 ] ^2

= 2165


Mar 7th, 2015

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Mar 7th, 2015
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