Question: Suppose we want a 99% confidence interval for the average amount spent on books by freshmen in their first year at college. The amount spent

Suppose we want a 99% confidence interval for the average amount spent on books by freshmen in their first year at college. The amount spent has a normal distribution with standard deviation $18.

(a) How large should the sample be if the margin of error is to be less than $3? ANSWER:

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The spatial rule: The closer spatial proximity we have to an event, the more importance we will attach to it.

The visual rule: If we observe an event with our own eyes, we will attach more weight to it than if someone else had described it to us.