You want to estimate the mean amount of annual tuition being paid by current full-time college students in the United States. First use the range rule of thumb to make a rough estimate of the standard deviation of the amounts spent. It is reasonable to assume that tuition amounts range from $0 to about $45,000. Then use that estimated standard deviation to determine the sample size corresponding to 99% confidence and a $100 margin of error. Does the resulting sample size seem practical? Find the sample size required to estimate the population mean.

  • CreatedMay 03, 2015
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