The Hilbert Drug Store Owner Plans to Survey a Random

question 103

Multiple Choice

The Hilbert Drug Store owner plans to survey a random sample of his customers with the objective of estimating the mean dollars spent on pharmaceutical products during the past three months. He has assumed that the population standard deviation is known to be $15.50. Given this information, what would be the required sample size to estimate the population mean with 95 percent confidence and a margin of error of ±$2.00?

• A) 231
• B) 163
• C) 16
• D) 15

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