You are interested in estimating the the mean age of the citizens living in your community. In order to do this, you plan on con
structing a confidence interval; however, you are not sure how many citizens should be included in the sample. If you want your sample estimate to be within 5 years of the actual mean with a confidence level of 97%, how many citizens should be included in your sample
You are interested in estimating the the mean age of the citizens living in your community. In order to do this, you plan on constructing a confidence interval; however, you are not sure how many citizens should be included in the sample. If you want your sample estimate to be within 5 years of the actual mean with a confidence level of 97% , how many citizens should be included in your sample? Assume that the standard deviation of the ages of all the citizens in this community is 18 years.
To work out the probability of both errors occuring, simply multiply the probability of the first error by the probability of the second error. Therefore the probability of both errors occurring is 0.2 * 0.3 = 0.06.