The sample size needed to estimate the population mean was found to be 865.If the value of the population standard deviation was 75,and the maximum allowable error was 5,then the confidence level used was 95%.

Question

Quizplus · Accepted Answer

To determine the sample size needed to estimate the population mean with a maximum allowable error and confidence level, we use the formula:

n = (z^2 * σ^2) / E^2

where:
n = sample size
z = z-score for the desired confidence level
σ = population standard deviation
E = maximum allowable error

Plugging in the given values, we get:

865 = (z^2 * 75^2) / 5^2

Solving for z, we get:

z = 1.96 (rounded to two decimal places)

This corresponds to a 95% confidence level, which is commonly used in statistical analysis. Therefore, the answer is A) True.

The Sample Size Needed to Estimate the Population Mean Was