You would like to estimate the average amount a family spends on food during a year. In the past, the standard deviation of the amount a family has spent on food during a year has been approximately $800. If you want to be 95% sure that you estimated average family food expenditures within $50, how many families do you need to survey?
What will be an ideal response?
=800, B =50, z– multiple =1.96
Remember to always round up the next integer when determining a sample size.
?
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