The housing market in Dallas, Texas, experienced a 9.8% increase in the past year. If the median home price was $96,812 one year
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Answer:
We need a sample size of at least 719
Step-by-step explanation:
We have that to find our level, that is the subtraction of 1 by the confidence interval divided by 2. So:
Now, we have to find z in the Ztable as such z has a pvalue of .
So it is z with a pvalue of , so
Now, find the margin of error M as such
In which is the standard deviation of the population and n is the size of the sample.
How large a sample size is required to vary population mean within 0.30 seat of the sample mean with 95% confidence interval?
This is at least n, in which n is found when . So
Rouding up
We need a sample size of at least 719