You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately o = 79.9. You would like to be 98% confident that your estimate is within 1.5 of the true population mean. How large of a sample size is required?

You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately o = 79.9. You would like to be 98% confident that your estimate is within 1.5 of the true population mean. How large of a sample size is required?

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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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

You want to obtain a sample to estimate a population
mean. Based on previous evidence, you believe the
population standard deviation is approximately o = 79.9.
You would like to be 98% confident that your estimate is
within 1.5 of the true population mean. How large of a
sample size is required?
Hint: Video [+]
n =

Expert Solution

Step 1

It is given that confidence level is 0.98, population standard deviation is 79.9 and margin of error E is 1.5.

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$Point Estimation, Limit Theorems, Approximations, and Bounds$

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