Stock in foreign companies

Reference no: EM13977598

1. A simple random sample is to be drawn from a population of 2000. The population standard deviation has been estimated as being 40 grams. In order to have 99% confidence that the sampling error in estimating µ is no more than 5 grams, what sample size will be necessary?

2. There are 100 members in the U.S. Senate. A political scientist wants to estimate, with 95% confidence and within 3 percentage points, the percentage who own stock in foreign companies. How many senators should be interviewed? Explain any assumptions you used in obtaining your recommended sample size.

Reference no: EM13977598

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