Discussion:
Q1) With a margin of error of 0.050; confidence level of 99% ^p and ^q unknown, what is the minimum sample size required to estimate a population proportion or percentage?
Q2) Amounts lost by gamblers who took a bus to Atlantic City casino: 99% confidence; n=40, mean of values in sample = $189,standard deviation is known to be $87. Use the given confidence level and sample data to find a confidence interval for estimating the population mean.
Q3) Margin of error: 1.5mm, confidence level:95%, standard deviation = 8.7mm. Using the given margin of error, confidence level and population standard deviation to find the minimum sample size required to estimate an unknown population mean.
Q4) Life span of desktop PC: 99%, confidence; n= 21, mean of the values = 6.8 years, s=2.4 years. Find the margin of error and the confidence interval for the population mean. Assume the population has a normal distribution.