Question: You are getting ready to take a sample from a large population, and need to determine the appropriate sample size. You are estimating sales at

You are getting ready to take a sample from a large population, and need to determine the appropriate sample size. You are estimating sales at a large chain of department stores. A previous survey from the same population found a standard deviation of $18. What sample size is needed to have a 95% confidence of estimating the population mean within plus/minus $5?Show your work.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

1.You are getting ready to take a sample from a large population, and need to determine the appropriate sample size. You are estimating sales at a large chain of department stores. A previous survey...

You are getting ready to take a sample from a large population, and need to determine the appropriate sample size. You are estimating sales at a large chain of department stores. A previous survey...

650-Q2 You are trying to take a sample from a large population, and need to determine the appropriate sample size. You are estimating sales at a large chain of department stores. A previous survey...

Journal of Information Technology Education Volume 6, 2007 The Delphi Method for Graduate Research Gregory J. Skulmoski Zayed University, Dubai, United Arab Emirates Francis T. Hartman and Jennifer...

XYZ company conducts a study to measure the degree of violence on television. They reported the results of three simple random samples of prime-time television hours. The following table summarizes...

The Brew House needs to decide which of two coffee maker designs is better environmentally. Using the following tables, determine which model is the better design aEternative. Revenue retrieval for...

Passing this class is riding on this assignment. I have answered almost all the questions needed for the template but I'm not sure where/how I'm supposed to reword everything so that it fits where...

You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of...

Set Student Name: 1. Answer true or false for each part, and if false, explain your answer. a. The point estimate for the population mean, , of an x distribution is x-bar, computed from a random...

Wade Yeo's regular hourly wage rate is $16, and he receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Wade works 47 hours. Wade's federal income tax...

In Exercise 4, we saw that 4% of people think the trend of more single women having children is a "good thing." a) Are the conditions for constructing a confidence interval met? b) How many people...

Given its election of the measurement alternative in ASC 3 2 1 - 1 0 - 3 5 - 2 , how is the Company required to measure the equity security as of March 3 1 , 2 0 1 9 ?

Please show me how to do this in Excel. I am new to the whole process. (If you show formula codes, I would greatly appreciate it. I need to understand how you entered it.) A credit card company is...

3. To understand that the first impression means a lot, and it takes a lot of energy to change this first impression.

Go, do not wait until I come

Make eye contact when talking and listening