Ryan keeps his loose change in a milk jug. The jug contains 25 pennies, 15 nickels, 15 dimes, and 5 quarters. If Ryan shakes out
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Answer:
So the answer for this case would be n=2663 rounded up to the nearest integer
Step-by-step explanation:
We have the following info:
margin of error desired
the standard deviation for this case
The margin of error is given by this formula:
(a)
And on this case we have that ME =50 and we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
The critical value for 99% of confidence interval now can be founded using the normal distribution. The significance is . And for this case would be
, replacing into formula (b) we got:
So the answer for this case would be n=2663 rounded up to the nearest integer