# Question: In the EAI sampling problem see Figure 7 5 we showed

In the EAI sampling problem (see Figure 7.5), we showed that for n = 30, there was .5034 probability of obtaining a sample mean within ± $500 of the population mean.

a. What is the probability that is within $500 of the population mean if a sample of size 60 is used?

b. Answer part (a) for a sample of size 120.

a. What is the probability that is within $500 of the population mean if a sample of size 60 is used?

b. Answer part (a) for a sample of size 120.

**View Solution:**## Answer to relevant Questions

The mean annual cost of automobile insurance is $939 (CNBC, February 23, 2006). Assume that the standard deviation is σ = $245. a. What is the probability that a simple random sample of automobile insurance policies will ...The Cincinnati Enquirer reported that, in the United States, 66% of adults and 87% of youths ages 12 to 17 use the Internet (The Cincinnati Enquirer, February 7, 2006). Use the reported numbers as the population proportions ...Find the t value(s) for each of the following cases. a. Upper tail area of .025 with 12 degrees of freedom b. Lower tail area of .05 with 50 degrees of freedom c. Upper tail area of .01 with 30 degrees of freedom d. Where ...During the first quarter of 2003, the price/earnings (P/E) ratio for stocks listed on the New York Stock Exchange generally ranged from 5 to 60 (The Wall Street Journal, March 7, 2003). Assume that we want to estimate the ...In an effort to estimate the mean amount spent per customer for dinner at a major Atlanta restaurant, data were collected for a sample of 49 customers. Assume a population standard deviation of $5. a. At 95% confidence, what ...Post your question