# Question

You need to compute a 99% confidence interval for the population mean. How large a sample should you draw to ensure that the sample mean does not deviate from the population mean by more than 1.2? (Use 6.0 as an estimate of the population standard deviation from prior studies.)

## Answer to relevant Questions

An analyst from an energy research institute in California wishes to precisely estimate the 99% confidence interval for the average price of unleaded gasoline in the state. In particular, she does not want the sample mean to ...Over a 10-year sample period, the mean return and the standard deviation of annual returns on a portfolio you are analyzing were 10% and 15%, respectively. You assume that returns are normally distributed. Construct the 95% ...The following table presents the returns of two mutual funds offered by the investment giant Fidelity. The Fidelity Select Automotive Fund invests primarily in companies engaged in the manufacturing, marketing, or sales of ...A polygraph (lie detector) is an instrument used to determine if the individual is telling the truth. These tests are considered to be 95% reliable. In other words, if an individual lies, there is a 0.95 probability that the ...Consider the following hypotheses:H0: µ = 120HA: µ ≠ 120The population is normally distributed with a population standard deviation of 46.a. Use a 5% level of significance to determine the critical value(s) of the ...Post your question

0