You put $500 in a savings account. The account earns $15.75 simple interest in 6 months. What is the annual interest rate? Show
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Answer:
The minimum sample size is n = 75 so that the desired margin of error is 5 or less.
Step-by-step explanation:
We are given the following in the question:
Population variance = 484
Standard deviation =
Confidence level = 0.95
Significance level = 0.05
Margin of error = 5
Formula:
Margin of error =
Putting values, we get
Thus, the minimum sample size is n = 75 so that the desired margin of error is 5 or less.