A Sample of Holiday Shoppers Is Taken Randomly from a Local

question 118

Short Answer

A sample of holiday shoppers is taken randomly from a local mall to determine the average daily spending on gifts. From a preselected sample, the standard deviation was determined to be $26. You would like to construct a 95% confidence interval for the mean daily spending on all holiday spending.
A) Find the appropriate sample size necessary to achieve a margin of error of $5.
B) Find the appropriate sample size necessary to achieve a margin of error of $8.

• A) Find the appropriate sample size necessary to achieve a margin of error of $5.
• B) Find the appropriate sample size necessary to achieve a margin of error of $8.

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