The mean amount of the 812 mortgages taken out in a city in the past year must be estimated Based on previous experience, a real estate broker knows that the population standard deviation is likely to be about $20,000 If a 95 confidence interval for the population mean is to extend $2,000 on each s...

The mean amount of the 812 mortgages taken out in a city in the past year must

Question:

The mean amount of the 812 mortgages taken out in a city in the past year must be estimated. Based on previous experience, a real estate knows that the population standard deviation is likely to be about $20,000. If a 95% confidence interval for the population mean is to extend $2,000 on each side of the sample mean, how many sample observations are needed if a simple random sample is taken? Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...