Answered

Find trusted answers to your questions with the help of IDNLearn.com's knowledgeable community. Our platform is designed to provide trustworthy and thorough answers to any questions you may have.

You are trying to estimate the average amount a family spends on food during a year. In the past, the standard deviation of the amount a family has spent on food during a year has been σ = $1200. If you want to be 99% sure that you have estimated average family food expenditures within $60, how many families do you need to survey?

Sagot :

Based on the calculation below, the number of families that has to be surveyed is 2,654.

How do we calculate the sample survey?

From the question, we have:

SD = population standard deviation = $1200

Confidence level = 99%

A = Average or half length of the interval = $60

Also, we have:

z-multiple at 99% confidence level = 2.576

The sample size or the number of families that has to be surveyed can be calculated using the following formula:

Number of families to survey or sample size =

Number of families to survey or sample size = ((z-multiple * SD) / A)^2 ....................... (1)

Substituting all the values into equation (1), we have:

Number of families to survey or sample size = ((2.576 * 1200) / 60)^2 = 51.52^2 = 2,654.3104 = 2,654

Learn about the sample size here: https://brainly.com/question/24158610.

#SPJ1

Your engagement is important to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Find the answers you need at IDNLearn.com. Thanks for stopping by, and come back soon for more valuable insights.