How many members should be included in the sample

Reference no: EM131405321

A university official wants to estimate, with 99% confidence and within $2, the average amount that members of fraternities and sororities spend at local restaurants during the first week of the semester.

If the total fraternity/sorority membership is 300 people, how many members should be included in the sample? Use (and explain) your own estimate for the population standard deviation.

Reference no: EM131405321

Questions Cloud

What does the term unemployment mean to you : What does the term unemployment mean to you? Do a little research and find the current unemployment rate and share with your classmates.

Determine number of trucks on which company should install : Using (and explaining) your own estimate for the population standard deviation, determine the number of trucks on which the company should install the hidden speed-recording device.

Determining the law of demand : Explain how the law of diminishing marginal utility is related to the law of demand.

How many of the households should be surveyed : How many of the households should be surveyed? Explain any assumptions you used in obtaining your recommended sample size.

How many members should be included in the sample : If the total fraternity/sorority membership is 300 people, how many members should be included in the sample? Use (and explain) your own estimate for the population standard deviation.

How large a simple random sample would be necessary : If she wishes to determine, within 1 percentage point and with 99% confidence, the percentage of defective items in the shipment, how large a simple random sample would be necessary?

Confidence interval for mean breaking strength of briefcase : Construct and interpret the 99% confidence interval for the mean breaking strength of the briefcases produced today.

Economic data and business data : Prepare a minimum 1,050-word analysis of economic data and business data to explain how the core economic principles impact the sustainability of the firm and what actions the firm can take to ensure success.

Interpret confidence interval for the current process mean : Construct and interpret the 95% confidence interval for the current process mean. Discuss the possibility that the machine may be in need of adjustment to correct the process mean.

User Account

All Pages