We Have Calculated a Confidence Interval Based on a Sample

question 40

Multiple Choice

We have calculated a confidence interval based on a sample of n = 180. Now we want to get a better estimate with a margin of error only one third as large. We need a new sample with n at least…

• A) 540
• B) 20
• C) 60
• D) 1620
• E) 312

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Definitions:

Observations

Data points or individual pieces of data collected through experimentation, measurement, or survey.

Expenditures

Money spent by an individual or organization for goods or services.

Mean Amount

The average value of a set of numbers, calculated by adding all the numbers together and then dividing by the count of those numbers.

Meals

Food and drink items prepared for consumption, usually at specific times during the day such as breakfast, lunch, and dinner.