Find the minimum required sample size for estimating the average return on real estate investments to within 0.5% per year with 95% confidence. The standard deviation of returns is believed to be 2% per year.
Answer to relevant QuestionsA company believes its market share is about 14%. Find the minimum required sample size for estimating the actual market share to within 5% with 90% confidence. Thomas Stanley, who surveyed 200 millionaires in the United States for his book The Millionaire Mind, found that those in that bracket had an average net worth of $9.2 million. The sample variance was 1.3 million $. Assuming ...The average customer of the Halifax bank in Britain (of whom there are 7.6 million) received $3,600 when the institution changed from a building society to a bank. If this is based on a random sample of 500 customers with ...A survey of 5,250 business travelers worldwide conducted by OAG Business Travel Lifestyle indicated that 91% of business travelers consider legroom the most important in-flight feature. (Angle of seat recline and food ...A statistician estimates the 90% confidence interval for the mean of a normally distributed population as 172.58 ± 3.74 at the end of a sampling experiment, assuming a known population standard deviation. What is the 95% ...
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