Question 482419: Assume that a sample is drawn and z(α/2) = 1.65 and σ = 25. Answer the following questions:
(A)If the Maximum Error of Estimate is 0.04 for this sample, what would be the sample size?
(B)Given that the sample Size is 400 with this same z(α/2) and σ, what would be the Maximum Error of Estimate?
(C)What happens to the Maximum Error of Estimate as the sample size gets larger?
(D)What effect does the answer to C above have to the size of the confidence interval?
Thank you
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Assume that a sample is drawn and z(α/2) = 1.65 and σ = 25. Answer the following questions:
(A)If the Maximum Error of Estimate is 0.04 for this sample, what would be the sample size?
ME = z[s/sqrt(n)]
1.65*25/sqrt(n) = 0.04
---
sqrt(n) = 1.65*25/0.04
---
n = [1.65*25/0.04]^2
---
n = 1,063,477 when rounded up
====================
(B)Given that the sample Size is 400 with this same z(α/2) and σ, what would be the Maximum Error of Estimate?
ME = 1.65*25/sqrt(400) = 2.0625
--------------------------------------
(C)What happens to the Maximum Error of Estimate as the sample size gets larger?
----
ME and sample size are indirectly related
ME gets smaller as n get larger.
-------------------------------------------
(D)What effect does the answer to C above have to the size of the confidence interval?
As n gets larger the confidence interval gets smaller.
============================
Cheers,
Stan H.
|
|
|
