question archive Consider a population of items having a standard deviation equal 10, we wish to estimate the mean of this population, before we make any decision regarding buying those items or not
Consider a population of items having a standard deviation equal 10, we wish to estimate the mean of this population, before we make any decision regarding buying those items or not
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Consider a population of items having a standard deviation equal 10, we wish to estimate the mean of this population, before we make any decision regarding buying those items or not. a) How large is a random sample is needed to construct a 95 percent confidence interval for the mean of this population with a margin of error equal to 1? b) Suppose that we now take a random sample of the size we have determined in part (a), if we obtain a sample mean equal to 295, calculate the 95 percent confidence interval for the population mean. What is the interval's margin error?
