The following information is provided,
Significance Level, α = 0.01, Margin or Error, E = 1, σ = 3
The critical value for significance level, α = 0.01 is 2.576.
The following formula is used to compute the minimum sample size
required to estimate the population mean μ within the required
margin of error:
n >= (zc *σ/E)^2
n = (2.575 * 3/1)^2
n = 59.67
Therefore, the sample size needed to satisfy the condition n
>= 59.72 and it must be an integer number, we conclude that the
minimum required sample size is n = 60
Ans : Sample size, n = 60
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