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son4ous [18]
3 years ago
9

To estimate a population mean, the sample size needed to provide a margin of error of 3 or less with a 95% confidence when the p

opulation standard deviation equals 11 is
(Round your answer to the nearest integer.)

Mathematics
1 answer:
Over [174]3 years ago
7 0

Answer:

The minimum sample needed to provide a margin of error of 3 or less is 52.

Step-by-step explanation:

The confidence interval for population mean (<em>μ</em>) is:

\bar x\pm z_{\alpha /2}\frac{\sigma}{\sqrt{n}}

The margin of error is:

MOE= z_{\alpha /2}\frac{\sigma}{\sqrt{n}}

<u>Given:</u>

MOE = 3

<em>σ </em>= 11

The critical value for 95% confidence interval is: z_{\alpha /2}=1.96

**Use the <em>z</em>-table for critical values.

Compute the sample size (<em>n</em>) as follows:

MOE= z_{\alpha /2}\frac{\sigma}{\sqrt{n}}\\3=1.96\times \frac{11}{\sqrt{n}}\\n=(\frac{1.96\times11}{3} )^{2}\\=51.65\\\approx52

Thus, the minimum sample needed to provide a margin of error of 3 or less is 52.

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Answer:

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Step-by-step explanation:

Given:

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The formula for consumer surplus is an economic formula that is applied to measure the consumer gain by subtracting the actual price that the consumer has given from the maximum price the consumer is willing to pay

Consumer surplus = maximum price willing to pay - actual price

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tatiyna

Answer:

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Step-by-step explanation:

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