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A study is proposed to determine how much students are spending on textbooks. Fr

ID: 3218456 • Letter: A

Question

A study is proposed to determine how much students are spending on textbooks. From previous years standard deviation was ~$25. How many students should be included in the sample to be 95% confident that the sample mean is within $7 of the population mean for all students at this college? A study is proposed to determine how much students are spending on textbooks. From previous years standard deviation was ~$25. How many students should be included in the sample to be 95% confident that the sample mean is within $7 of the population mean for all students at this college?

Explanation / Answer

from here margin of error E =7

for 95% CI, z=1.96

hence sample size =(z*std deviation/E)2 =~49