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Section I: Multiple Choice Select the best answer for each question. Suppose we want a
Chapter 8, Problem T8.8(choose chapter or problem)
Section I: Multiple Choice Select the best answer for each question. Suppose we want a 90% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $2. Based on last years book sales, we estimate that the standard deviation of the amount spent will be close to $30. The number of observations required is closest to (a) 25. (b) 30. (c) 608. (d) 609. (e) 865.
Questions & Answers
QUESTION:
Section I: Multiple Choice Select the best answer for each question. Suppose we want a 90% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $2. Based on last years book sales, we estimate that the standard deviation of the amount spent will be close to $30. The number of observations required is closest to (a) 25. (b) 30. (c) 608. (d) 609. (e) 865.
ANSWER:Step 1 of 2
Given that,
Suppose we want a 90% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $2. Based on last year’s book sales, we estimate that the standard deviation of the amount spent will be close to $30.