Given that the population standard deviation is σ = 1, determine the minimum sample size needed in order to estimate the population mean so that the margin of error is E= .2 at 95% level of confidence.

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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Given that the population standard deviation is σ = 1, determine the minimum sample size needed in order to estimate the population mean so that the margin of error is E= .2 at 95% level of confidence. 

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Solution

\alpha =1-C=1-0.99= 0.01

\frac{\alpha}{2} =\frac{0.01}{2} =\mathbf{0.005}

Refer Standard normal table/Z-table OR use excel function "=NORM.S.INV((1-0.05))" to find the critical value of z.

= 1.960

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