The manager of a local bakery wants to determine the average expenditure per household on bakery products. Past research indicates that the standard deviation is $10.
a. Calculate the sample size for the various levels of precision and confidence. Show your calculations:

b. Which alternative gives the largest estimate for sample size? Explain.

Transcribed Image Text:

Desired Precision(+ Desired Confidence Estimated Sample Size 0.50 1.00 0.50 0.25 0.50 0.25 1.00 1.00 0.25 0.95 0.99 0.90 0.90 0.99 0.95 0.90 0.95 0.99 3 4. 5 6 9