Question

Answer the Question please Typed - Written or Excel Pictures But not as hand writing pictures

They need Z Values - Z Table

5. Suppose a survey researcher studying annual expenditures on lipstick wishes to have a 99 percent confidence level and a range of error (E) of less than $2. If the estimate of the standard deviation is $29, what sample size is required for this? (1 Marks)

Answer 1

#NAME? Given :- = 2 MARGIN OF ERROR {E} POPULATION STANDARD DEVIATION (0) CONFIDENCE LEVEL(C) 29 99% NOW SIGNIFANCE LEVEL (a) =1-C 0.01 SO (a/2) 0.005 now critical value for Z_(a/2)) 2.5758 USING NORMal dist formula =norm.inv(a/2,0,1) o MARGIN OF ERROR (E) = Za In

2 SO SAMPLE SIZE(n) May E now sample size 1394.987 SO THE SAMPLE SIZEE REQUIRED IS (n)= 1395 ANSWER