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An analyst at a popular shopping website wants to estimate the average number of times shoppers...

An analyst at a popular shopping website wants to estimate the average number of times shoppers visit their website on a monthly basis. A study found that a good estimate of the population standard deviation is 7.30. How large should the sample size be if the analyst wants to have 93% confidence that the margin of error for estimating the average number of times shoppers visit the web site on a monthly basis will not be more than 2?

Math   Statistics-And-Probability   
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Answer #1

Solution :

Given that,

Population standard deviation = = 7.30

Margin of error = E = 2

At 93% confidence level the z is,

= 1 - 93%

= 1 - 0.93 = 0.07

/2 = 0.035

Z/2 = Z0.035 = 1.812

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

n = [1.812 * 7.30 / 2 ]2

n = 43.74

Sample size = n = 44

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