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Use the given information to find the minimum sample size required to estimate an unknown population mean μ. Margin of error: $126, confidence level: 99%, σ=$500 OA. 43 00 B. 105 C. 53 D. 60

Use the given information to find the minimum sample size required to estimate an unknown population mean μ. Margin of error: $126, confidence level: 99%, σ=$500 OA. 43 00 B. 105 C. 53 D. 60

MATLAB: An Introduction with Applications
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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**Sample Size Calculation for Estimating Population Mean** To determine the minimum sample size required to estimate an unknown population mean (μ), consider the following parameters: - **Margin of Error (E):** $126 - **Confidence Level:** 99% - **Standard Deviation (σ):** $500 Given these parameters, calculate the appropriate sample size (\( n \)) using the formula for margin of error in estimating a population mean. The options provided for sample size are: A. 43 B. 105 C. 53 D. 60 Make sure to use the z-value corresponding to the 99% confidence level in your calculations.
Transcribed Image Text:**Sample Size Calculation for Estimating Population Mean** To determine the minimum sample size required to estimate an unknown population mean (μ), consider the following parameters: - **Margin of Error (E):** $126 - **Confidence Level:** 99% - **Standard Deviation (σ):** $500 Given these parameters, calculate the appropriate sample size (\( n \)) using the formula for margin of error in estimating a population mean. The options provided for sample size are: A. 43 B. 105 C. 53 D. 60 Make sure to use the z-value corresponding to the 99% confidence level in your calculations.
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