Sample Size Determination in Estimating Population Mean In this hypothetical sce

Question

Sample Size Determination in Estimating Population Mean In this hypothetical scenario, you are working for a consumer protection agency. Your boss assigned you the task of conducting a survey on cheese burgers at a national restaurant chain. In your report, you would need to construct a 95% confidence interval for the mean weight of cheese burgers. Based on past surveys on cheese burgers at this restaurant chain, the standard deviation of weight is 0.12 pound. It is required that the maximum likely sampling error of mean weight be 0.03 pound. A cheese burger at the restaurant chain costs $1.2. What is the required budget (2 decimals) for the cheese burgers to be included in your survey sample?

Explanation / Answer

z- score for 95% confidence is z = 1.96

= 0.12, E = 0.03

N = (z * /E)^2 = (1.96 * 0.12/0.03)^2 = 61.46

Sample size required = 62

Budget = 62 * 1.2 = $74.40

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