How many samples are needed to estimate a population mean? The required confidence level is 99% and margin of error is 0.5. Population standard deviation, σ, is given as 3.0. Based on this information, how many samples (n) are needed?
Solution :
Given that,
standard deviation = = 3.0
margin of error = E = 0.5
Z/2 = 2.576
Sample size = n = ((Z/2 * ) / E)2
= ((2.576 * 3.0) / 0.5)2
= 239
Sample size = 239
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