Answered: Mean household income must be estimated…

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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Mean household income must be estimated for a town that can be divided into three districts. The relevant information is shown in the table.

District Population Size Estimated Standard Deviation ($)
1 1,150 4,000
2 2,120 6,000
3 930 8,000

If a 95% confidence interval for the population mean extending $500 on each side of the sample estimate is required, determine how many sample observations in total are needed under proportional allocation and optimal allocation.

Expert Solution

Step 1

Given that:

District	Population Size	Estimated Standard Deviation ($)
1	1150	4000
2	2120	6000
3	930	8000

Confidence level = 95%

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