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How many family must be chosen for this study

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Question - A marketing manager of company want to estimate the average annual amount that families in a certain locality spend on local textile per year. He want the estimate to be with in 5$ margin of error. When such an internal estimate is constructed. He want to be able to have 95% confidence in it. He estimate that the standard deviation of annual family expenditure on local textile is about 100$ how many family's must be chosen for this study?

Reference no: EM132545952

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