The Standard Deviation of a Population Is Estimated to Be

question 71

Essay

The standard deviation of a population is estimated to be 345 units. To estimate the
population mean to within 49 units with 99% reliability, what size sample should be
selected?

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Definitions:

Framing

The process of presenting or constructing a concept, idea, or issue in a certain way to influence perception and judgment.

Representativeness Heuristic

A mental shortcut that involves judging the likelihood of an event or situation by comparing it to an existing prototype that already exists in our minds.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses.

Mental Sets

A tendency to solve problems using methods that have worked in the past rather than considering new approaches.