A 3-quart carton costs $2.79, while a 4-quart carton costs $3.88. Which is the better buy and why?
1 answer:
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Answer:
The value is
The correct option is a
Step-by-step explanation:
From the question we are told that
The margin of error is E = 0.05
From the question we are told the confidence level is 95% , hence the level of significance is
=>
Generally from the normal distribution table the critical value of is
Generally since the sample proportion is not given we will assume it to be
Generally the sample size is mathematically represented as
=>
=>
Generally the margin of error is mathematically represented as
Generally if the level of confidence increases, the critical value of increase and from the equation for margin of error we see the the critical value varies directly with the margin of error , hence the margin of error will increase also
So If the confidence level is increased, then the sample size would need to increase because a higher level of confidence increases the margin of error.