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An inventory has 21,384 items. It’s estimated standard deviation is $125. Calculate the sample size needed...

An inventory has 21,384 items. It’s estimated standard deviation is $125. Calculate the sample size needed to estimate it total value with a precision of $200,000 at a 95% confidence interval.(plz mention formula)

Math   Statistics-And-Probability   
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Answer #1
Sample Size 200,000
Sample Mean 21384
Standard Deviation 125.00
Confidence Coefficient 0.95
Significant level 0.05
Margin of error 0.55
Point Estimate 21384
Lower Limit 21383.45
Upper Limit 21384.55

procedure:

Refer formula in the column F

Significant level = 1-0.95 = 0.05

95% confidence interval

Lower limit = 21383.45

Upper limit = 21384.55

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