Respuesta :
Answer:
1) [tex]7848-1.96\frac{310}{\sqrt{576}}=7822.68[/tex]
[tex]7848+1.96\frac{310}{\sqrt{576}}=7873.32[/tex]
So on this case the 95% confidence interval would be given by (7822.68;7873.32)
2) [tex]n=(\frac{1.960(310)}{20})^2 =922.94 \approx 923[/tex]
So the answer for this case would be n=923 rounded up to the nearest integer
Step-by-step explanation:
Previous concepts
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
[tex]\bar X=7848[/tex] represent the sample mean
[tex]\mu[/tex] population mean (variable of interest)
s=310 represent the sample standard deviation
n=576 represent the sample size
Part 1
The confidence interval for the mean is given by the following formula:
[tex]\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}[/tex] (1)
In order to calculate the critical value [tex]t_{\alpha/2}[/tex] we need to find first the degrees of freedom, given by:
[tex]df=n-1=576-1=575[/tex]
Since the Confidence is 0.95 or 95%, the value of [tex]\alpha=0.05[/tex] and [tex]\alpha/2 =0.025[/tex], and we can use excel, a calculator or a tabel to find the critical value. The excel command would be: "=-T.INV(0.025,575)".And we see that [tex]t_{\alpha/2}=1.96[/tex]
Now we have everything in order to replace into formula (1):
[tex]7848-1.96\frac{310}{\sqrt{576}}=7822.68[/tex]
[tex]7848+1.96\frac{310}{\sqrt{576}}=7873.32[/tex]
So on this case the 95% confidence interval would be given by (7822.68;7873.32)
Part 2
The margin of error is given by this formula:
[tex] ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}[/tex] (a)
And on this case we have that ME =20 and we are interested in order to find the value of n, if we solve n from equation (a) we got:
[tex]n=(\frac{z_{\alpha/2} s}{ME})^2[/tex] (b)
[tex]n=(\frac{1.960(310)}{20})^2 =922.94 \approx 923[/tex]
So the answer for this case would be n=923 rounded up to the nearest integer