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A Coal Company Wants to Determine a 95% Confidence Interval

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Short Answer

A coal company wants to determine a 95% confidence interval estimate for the average daily tonnage of coal that they mine. Assuming that the company reports that the standard deviation of daily output is 200 tons, how many days should they sample so that the margin of error will be 39.2 tons or less?


Definitions:

Activity Base

A measure used for allocating costs to cost objects based on the number of transactions or events that take place in the process of providing a service or manufacturing a product.

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