Find the appropriate minimum sample size
-You want to be 95% confident that the sample variance is within 30% of the population variance.
A)97
B)723
C)130
D)346

Question

Quizplus · Accepted Answer

The sample size needed to be 95% confident that the sample variance is within 30% of the population variance is given by the formula:n = (Z^2 * s^2) / (E^2 * σ^2)where:Z is the z-score for the desired confidence level (95% = 1.96)s is the sample standard deviationE is the margin of error (30% = 0.3)σ is the population standard deviationSince we do not know the population standard deviation, we can use the sample standard deviation as an estimate. Substituting the given values into the formula, we get:n = (1.96^2 * s^2) / (0.3^2 * s^2) = 38.416Rounding up to the nearest whole number, we get a sample size of 39.

Find the Appropriate Minimum Sample Size