You want to build a 99% confidence interval estimate of the mean of a large population.You want the margin of error to be no more than 5.You estimate that the population standard deviation is 50.How big a sample should you select?
A)634
B)753
C)666
D)442
E)258

Question

Quizplus · Accepted Answer

To calculate the sample size for a 99% confidence interval with a margin of error of 5 and a population standard deviation of 50, use the formula: n = (Z*σ/E)^2. For 99% confidence, Z is approximately 2.576. Plugging in the values: n = (2.576*50/5)^2 = 665.64, which rounds up to 666.

You Want to Build a 99% Confidence Interval Estimate of the Mean