The company has to study 199 machines.
In statistics, the standard deviation is a measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean of the set, while a high standard deviation indicates that the values are spread out over a wider range.
It is given that;
Margin of error E = 0.7
Confidence interval 98% = 1-0.98 = 0.02
Standard deviation = 6 hours
Number of MRI machines needed per day n, = [(z alpha/2 * SD)/E]²
Z alpha/2 = 1.645 at alpha = 0.1
Inputting these values into n we have that
[(1.645*6)/0.7]²
= 14.1²
= 198.81 is approximately equal to 199
The company has to study 199 machines.
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