Suppose we wish to calculate a 95% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $3. Assume that the amount spent on books by freshmen has a Normal distribution with a population standard deviation o is $30. How many observations are required to achieve this margin of error? 19 20 384 385

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3.

Suppose we wish to calculate a 95% confidence interval for the
average amount spent on books by freshmen in their first year at a
major university. The interval is to have a margin of error of $3.
Assume that the amount spent on books by freshmen has a
Normal distribution with a population standard deviation o is $30.
How many observations are required to achieve this margin of
error?
19
20
384
385
Transcribed Image Text:Suppose we wish to calculate a 95% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $3. Assume that the amount spent on books by freshmen has a Normal distribution with a population standard deviation o is $30. How many observations are required to achieve this margin of error? 19 20 384 385
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