To Estimate with 95% Confidence the Mean of a Normal

question 145

True/False

To estimate with 95% confidence the mean of a normal population whose standard deviation is assumed to be 4 and the maximum allowable sampling error is assumed to be 1,requires a random sample of size 62.

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Definitions:

Transferred

Moved or shifted from one place, person, or entity to another.

Claim in Recoupment

A legal claim made by a defendant in a lawsuit to offset or reduce the amount of damages claimed by the plaintiff, based on related transactions.

Instrument

In legal and financial contexts, a formal document, such as a contract, will, or security, that has a legal effect or is meant to convey rights or obligations.

Original Payee

The initial recipient to whom a financial instrument, such as a check or promissory note, is made payable.