Asked by Rahul Kapoor on Sep 29, 2024
The sample size needed to estimate the population mean was found to be 865.If the value of the population standard deviation was 75,and the maximum allowable error was 5,then the confidence level used was 95%.
Confidence Level
A confidence level is a statistical parameter that expresses how certain one is in the results of a statistical experiment, often represented as a percentage that quantifies the probability that the true parameter lies within the confidence interval.
Population Standard Deviation
The population standard deviation is a measure of the dispersion or variation of all members in a full set or 'population' of data.
Maximum Allowable Error
The largest error that is tolerated in the measurement process, beyond which the measurement is considered unacceptable.
- Learn about the relationship between the number of samples and the confidence level in approximating the averages of a population.
- Determine the necessary sample size for approximating the means of populations within defined confidence boundaries.
- Familiarize yourself with the effect standard deviation has on the calculation of sample size for the assessment of population mean.
Learning Objectives
- Learn about the relationship between the number of samples and the confidence level in approximating the averages of a population.
- Determine the necessary sample size for approximating the means of populations within defined confidence boundaries.
- Familiarize yourself with the effect standard deviation has on the calculation of sample size for the assessment of population mean.