What is the difference between 0.05, 0.5, and 0.50
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Answer:
<em>The large sample size 'n' = 199.6569≅ 200</em>
Step-by-step explanation:
<u><em>Step(i)</em></u>:-
Given Standard deviation of salary for all baseball players for 2015 is about $5,478,384.55
<em>Standard deviation of of salary for all baseball players for 2015 </em>
<em> (S.D ) σ = $5,478,384.55</em>
Given estimate of this average salary for all baseball players for 2015
= $497,000
<em>Given Margin of error of error is = $497,000 </em>
<em>Level of significance ∝ = 80% </em>
<em>The critical value Z₀.₂₀ = 1.282 </em>
<u><em>Step(ii):</em></u><em>-</em>
<em>Margin of error of error is determined by</em>
<em> </em><em></em>
<em> </em><em></em>
Cross multiplication , we get
On calculation , we get
√n = 14.13
<em>Squaring on both sides, we get</em>
n = 199.6569
<u><em>Conclusion</em></u><em>:-</em>
<em>The large sample size 'n' = 199.6569≅ 200</em>
<em> </em>
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