An economist would like to estimate the mean amount of money that a family spends to within $35. If the amount spent by a family is considered to be normally distributed with standard deviation $261, what sample size would be necessary to be 91% confident?
An economist would like to estimate the mean amount of money that a family spends to within $35. If the amount spent by a family is considered to be normally distributed with standard deviation $261, what sample size would be necessary to be 91% confident?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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An economist would like to estimate the mean amount of money that a family spends to
within $35. If the amount spent by a family is considered to be
standard deviation $261, what
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