SOLUTION: A turkey producer knows from previous experience that profits are maximized by selling turkeys when their average weight is 12 kilograms. Before determining whether to put all thei
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Question 370299: A turkey producer knows from previous experience that profits are maximized by selling turkeys when their average weight is 12 kilograms. Before determining whether to put all their full grown turkeys on the market this month, the producer wishes to estimate their mean weight. Prior knowledge indicates that turkey weights have a standard deviation of around 1.5 kilograms. The number of turkeys that must be sampled in order to estimate their true mean weight to within 0.5 kilograms with 95% confidence is:
A. 5
B. 35
C. 65
D. 150
You can put this solution on YOUR website! A turkey producer knows from previous experience that profits are maximized by selling turkeys when their average weight is 12 kilograms. Before determining whether to put all their full grown turkeys on the market this month, the producer wishes to estimate their mean weight. Prior knowledge indicates that turkey weights have a standard deviation of around 1.5 kilograms. The number of turkeys that must be sampled in order to estimate their true mean weight to within 0.5 kilograms with 95% confidence is:
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n = [zs/E]^2
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n = [1.96*1.5/0.5]^2
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n = 35 when rounded up
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Cheers,
Stan H.
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A. 5
B. 35
C. 65
D. 150
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