Statistics questions

label Statistics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

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

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Mar 7th, 2015
...
Mar 7th, 2015
Jun 28th, 2017
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