Help. I will be guessing on this, but I want to make sure this is on here so no one has to guess like I am. Help a brother out
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Answer:
$15600
Step-by-step explanation:
Minimum number of samples can be calculated using the formula:
N≥ where
- N is the sample size
- z is the corresponding z-score for 95% confidence level (1.96)
- s is the standard deviation of the calorie consumption (450 cal.)
- ME is the margin of error that the researcher is willing to accept. (50 cal)
N≥ =311.2
Therefore, minimum required sample size for 50 cal standard error in 95% confidence is 312
Since the survey costs $50 for each person then the survey costs minimum
50*312=$15600