SOLUTION: How large a sample should be taken if the population mean is to be estimated with 99% confidence to within $71? The population has a standard deviation of $892. (Round your answer
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Question 1112396: How large a sample should be taken if the population mean is to be estimated with 99% confidence to within $71? The population has a standard deviation of $892. (Round your answer up to the next whole number.) Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! the half interval is 71
99% CI is z(0.995) or 2.576
The half interval is z*sigma/sqrt(n)=71
2.576*892=71*sqrt(n), multiplying through
dividing by 71
sqrt (n)=32.36
square both sides
n=1047.38, round up to
n=1048
