Solution Found!
National Accounting Examination If the variance of a
Chapter 7, Problem 25E(choose chapter or problem)
QUESTION:
Problem 25E
National Accounting Examination If the variance of a national accounting examination is 900, how large a sample is needed to estimate the true mean score within 5 points with 99% confidence?
Questions & Answers
QUESTION:
Problem 25E
National Accounting Examination If the variance of a national accounting examination is 900, how large a sample is needed to estimate the true mean score within 5 points with 99% confidence?
ANSWER:
Solution:
Step 1 of 2:
From the given problem, we have
The variance = 900
The standard deviation is
= 30
Given E = 5
Here we have to find the sample size.