Question 575430
Assume that a sample is drawn and z(α/2) = 1.65 and σ = 35. Answer the following questions:

(A) If the Maximum Error of Estimate is 0.05 for this sample, what would be the sample size?
n = [z*s/ME]^2
n = [1.65*35/0.05]^2 = 1155^2 = 1,334,025
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(B) Given that the sample Size is 400 with this same z(α/2) and σ, what would be the Maximum Error of Estimate?
400 = [1.65*35/ME]^2
[1.65*35/ME = 20
ME = 1.65*35/20
ME = 2.89
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(C) What happens to the Maximum Error of Estimate as the sample size gets larger?
ME and n are inversely related.
As sample size increases the Maximum Error decreases.
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(D) What effect does the answer to C above have to the size of the confidence interval?
The confidence interval is ALWAYS 2 times ME.
If n increases ME decreases and the CI becomes smaller.
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Cheers,
Stan H.
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