A coal company wants to determine a 95% confidence interval estimate for the average daily tonage...
A coal company wants to determine a 95% confidence interval estimate for the average daily tonage of coal that they mine. Assuming that the company reports that the standard deviation of daily output is 100 tons, how many days should they sample (i.e. find the sample size) so that the margin of error will be 20 tons or less?
Please break this down and show me the formula. Thanks
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