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The Retail Advertising and Marketing Association would like to estimate the average amount of money that...

The Retail Advertising and Marketing Association would like to estimate the average amount of money that a person spends for Mother's Day with a 99% confidence interval and a margin of error within plus or minus $12. Assuming the standard deviation for spending on Mother's Day is $36, the required sample size is:

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60

Math   Statistics-And-Probability   
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Answer #1

Refer Standard normal table/Z-table or use excel function "=NORM.S.INV((1-0.005))" to find the Z-value.

Round the value to the nearest whole number.

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