What sample size use to estimate true average time

Assignment Help Basic Statistics

Reference no: EM13144581

A large supermarket chain would like to estimate the amount of time people spend looking at a particular type of in store display. From similar studies they believe the standard deviation of the time would be around 6.2 minutes. If they would like to estimate the true average time to within 1.9 minute (with 95% confidence) what sample size should they use? (remember to round to the next largest integer.)

Reference no: EM13144581

Questions Cloud

Compute partnership ordinary income and separately stated : Compute partnership’s ordinary income and separately stated items. Compute Mark’s and Pamela’s ending basis in their partnership interests assuming their beginning balances are $150,000 each.

Health services system : Resources consumed by the health services system have soared uncontrollably since the late 1960s. What factors contributed to these increases? Identify actions that have been taken, and identify what else might be done to control costs?

Conflict between need for personal privacy-confidentiality : Discuss the conflict between the need for personal privacy and confidentiality in banking transactions and the need for the government to curtail money laundering activities.

Determine present value-compounded semi annually : Find the present value of rs.2000 due in 6 yrs if money is worth compounded semi-annually ascertain the present value of an amount of rs.8000deposited now in a commercial bank for a period of 6 yrs at 12 % rate of interest.

What sample size use to estimate true average time : If they would like to estimate the true average time to within 1.9 minute (with 95% confidence) what sample size should they use? (remember to round to the next largest integer.)

Journal entry to record pension-related amounts : The interest (settlement) rate applicable to the plan is 10% On January 1, 2011, the company amends its pension agreement so that service costs of $500,000 are created. Other data related to the pension plan are as follows:

Health service organizations and health systems : Why do HSOs/HSs use teams? Identify at least three benefits and drawbacks specific to healthcare teams. What suggestions can you provide to ensure the most effective healthcare teams?

How can a chloride flux be inhibitory : Chloride moves fairly freely through the neuronal membrane, and yet the opening of chloride gates can cause inhibition? How can a chloride flux be inhibitory?

Find required sample size in order to meet needs : A private medical clinic wants to estimate the true mean annual income of its patients. If the confidence level is 95%, find the required sample size in order to meet the needs.

User Account

All Pages