A sample size must be determined for estimating a population mean given that the confidence level is 90% and the desired margin of error is 0.30. The largest value in the population is thought to be 15 and the smallest value is thought to be 5.
a. Calculate the sample size required to estimate the population using a generously large sample size.
b. If a conservatively small sample size is desired, calculate the required sample size. Discuss why the answers in parts a and b are different.