Suppose we wish to calculate a 90% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $2. Assume that the amount spent on books by freshmen has a normal distribution with a standard deviation of $30. How many observations are required to achieve this margin of error?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 4CYU
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Suppose we wish to calculate a 90% confidence interval for the average
amount spent on books by freshmen in their first year at a major university. The
interval is to have a margin of error of $2. Assume that the amount spent on
books by freshmen has a normal distribution with a standard deviation of $30.
How many observations are required to achieve this margin of error?
Transcribed Image Text:Suppose we wish to calculate a 90% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $2. Assume that the amount spent on books by freshmen has a normal distribution with a standard deviation of $30. How many observations are required to achieve this margin of error?
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