Question

You want to obtain a sample to estimate how much parents spend on their kids birthday...

You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation is approximately σ=76.1 dollars. You would like to be 98% confident that your estimate is within 1.5 dollar(s) of average spending on the birthday parties. How many parents do you have to sample?

Homework Answers

Answer #1

Solution :

Given that,

standard deviation =   =76.1

Margin of error = E = 1.5

At 98% confidence level the z is ,

= 1 - 98% = 1 - 0.98 = 0.02

/ 2 = 0.02/ 2 = 0.01

Z/2 = Z0.01 = 2.326 ( Using z table    )

sample size = n = [Z/2* / E] 2

n = ( 2.326*76.1 /1.5 )2

n =13925.35

Sample size = n =13926

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You want to obtain a sample to estimate how much parents spend on their kids birthday...
You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation is approximately σ = 63.3 dollars. You would like to be 98% confident that your estimate is within 4 dollar(s) of average spending on the birthday parties. How many parents do you have to sample?
You want to obtain a sample to estimate how much parents spend on their kids birthday...
You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation is approximately σ = 77.2 σ = 77.2 dollars. You would like to be 90% confident that your estimate is within 5 dollar(s) of average spending on the birthday parties. How many parents do you have to sample?
You want to obtain a sample to estimate how much parents spend on their kids birthday...
You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation is approximately σ=37.8σ=37.8 dollars. You would like to be 90% confident that your estimate is within 10 dollar(s) of average spending on the birthday parties. How many parents do you have to sample?
13 We want to obtain a sample to estimate a population mean. Based on previous evidence,...
13 We want to obtain a sample to estimate a population mean. Based on previous evidence, researchers believe the population standard deviation is approximately σ=67.9. We would like to be 99% confident that the esimate is within 1 of the true population mean. How large of a sample size is required? n= 14 You want to obtain a sample to estimate how much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation...
A political candidate has asked you to conduct a poll to determine what percentage of people...
A political candidate has asked you to conduct a poll to determine what percentage of people support him. If the candidate only wants a 4% margin of error at a 97.5% confidence level, what size of sample is needed? When finding the z-value, round it to four decimal places. You want to obtain a sample to estimate a population proportion. At this point in time, you have no reasonable preliminary estimation for the population proportion. You would like to be...
You want to obtain a sample to estimate a population proportion. Based on previous evidence, you...
You want to obtain a sample to estimate a population proportion. Based on previous evidence, you believe the population proportion is approximately 73%. You would like to be 98% confident that your estimate is within 1.5% of the true population proportion. How large of a sample size is required?
You want to obtain a sample to estimate a population mean. Based on previous evidence, you...
You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately σ=43.8σ=43.8. You would like to be 98% confident that your estimate is within 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...
You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately σ=59.2. You would like to be 98% confident that your estimate is within 10 of the true population mean. How large of a sample size is required? n = __________________
You want to obtain a sample to estimate a population mean. Based on previous evidence, you...
You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately σ = 63.5 . You would like to be 98% confident that your estimate is within 4 of the true population mean. How large of a sample size is required? n = ?
You want to obtain a sample to estimate a population mean. Based on previous evidence, you...
You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately σ = 56.5 . You would like to be 98% confident that your esimate is within 4 of the true population mean. How large of a sample size is required? n =
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT