Find the Appropriate Minimum Sample Size

question 75

Multiple Choice

Find the appropriate minimum sample size
-You want to be 95% confident that the sample variance is within 40% of the population variance.

• A)224
• B)56
• C)14
• D)11

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Definitions:

Estimated Average Annual Income

An approximation of the amount of money one is expected to earn on average each year, considering various income sources over a specified period.

Average Investment

The mean value of all investments held over a specific period, used to assess overall investment performance.

Estimated Average Annual Income

An approximation of the amount of money an individual or business expects to earn in an average year.

Straight-Line Method

A method of amortizing a bond discount or premium that provides for equal amounts of discount (or premium) to be written off to interest expense each period.