Question: A college has 3 200 undergraduate students and 800 graduate students
A college has 3,200 undergraduate students and 800 graduate students. Researchers are interested in the amount of money spent in a year on textbooks by these students. Initially, simple random samples of 30 undergraduate students and 30 graduate students were taken. The sample standard deviations for amounts spent were $40 and $58, respectively. A 90% confidence interval for the overall population mean that extends $5 on each side of the sample point estimate is required. Estimate the smallest total number of additional sample observations needed to achieve this goal.
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