According to the Census Bureau publication Current Construction Reports, the mean price of new mobile homes...

Question

Question

According to the Census Bureau publication Current Construction Reports, the mean price of new mobile homes is $38,400. The standard deviation of the prices is $7,200.
A sample of size 100 yields sigma(sub x-bar) = $720.00. What sample size is needed in order

for sigma(sub x-bar) to equal $360?

Answer 1

Answer #1

Standard error or is inversely proportional to sample size by

Thus, 360 =

-> n = 400

Thus, the required sample size = 400

Answer 2

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