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You have been asked to determine the average amount that fishermen spend per year on food and lodging while on fishing trips in a certain state. Your estimate is to be within + / - $25 of the population mean; the confidence level is to be 95%; and the estimated standard deviation for the amount spent is $125 based on prior research. How large a sample do you need?

You have been asked to determine the average amount that fishermen spend per year on food and lodging while on fishing trips in a certain state. Your estimate is to be within + / - $25 of the population mean; the confidence level is to be 95%; and the estimated standard deviation for the amount spent is $125 based on prior research. How large a sample do you need?

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
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  1. You have been asked to determine the average amount that fishermen spend per year on food and lodging while on fishing trips in a certain state. Your estimate is to be within + / - $25 of the population mean; the confidence level is to be 95%; and the estimated standard deviation for the amount spent is $125 based on prior research. How large a sample do you need?

 

Confidence Level:

Desired precision:

Estimated population variation:

Required sample size:

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