Question 25 You estimated the average rental cost of a 2 bedroom apartment in Denton. A random sample of 16 apartments was taken. The sample mean is $1000 with a known standard deviation of $160. The Error for this calculation, using a 95% Cis $78.40. You decide you cannot have this large an error and want to reduce the error to $40. What size sample should you take? 045 o e o oO

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Question 25
You estimated the average rental cost of a 2 bedroom apartment in Denton. A random sample of 16 apartments was taken. The sample
mean is $1000 with a known standard deviation of $160. The Error for this calculation, using a 95% CI is $78.40. You decide you
cannot have this large an error and want to reduce the error to $40. What size sample should you take?
O 60
O 45
O 57
Transcribed Image Text:Question 25 You estimated the average rental cost of a 2 bedroom apartment in Denton. A random sample of 16 apartments was taken. The sample mean is $1000 with a known standard deviation of $160. The Error for this calculation, using a 95% CI is $78.40. You decide you cannot have this large an error and want to reduce the error to $40. What size sample should you take? O 60 O 45 O 57
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