Answer:
it can be. It just depends on what you are interested in. If you are interested in a scientific field then it is an amazing way to use your time. But if you are bot interested in science, it is a waste personally.
Question:
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.
Answer:
61.03
Step-by-step explanation:
Given:
Standard deviation = 18
Sample estimate = 5
Confidence level = 97%
Required:
Find sample size, n.
First find the Z value. Using zscore table
Z-value at a confidence level of 97% = 2.17
To find the sample size, use the formula below:





Sample size = 61.03
P(800)=775
800p=775
800p/800=775/800
p=0.96875
rounded = 97 percent
Total equity is equal to assets - liabilities.
Therefore,
8000 - 1000 = 7000
The owner's equity is $7,000.