You Want to Estimate σ for the Population of Waiting $\sigma$

question 36

Essay

You want to estimate σ for the population of waiting times at McDonald's drive-up windows,
and you want to be 95% confident that the sample standard deviation is with 20% of $\sigma$ . Find
the minimum sample size. Is this sample size practical?

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Definitions:

Canadian Dollars

The currency of Canada, represented by the symbol CAD, and used throughout the country for financial transactions.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. Central banks attempt to limit inflation, and avoid deflation, in order to keep the economy running smoothly.

Appreciate

The increase in value of an asset over time.

Canadian Dollar

The official currency of Canada, symbolized as CAD and often referred to as the "loonie."