MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Since the population standard deviation is known, the normal distribution will be used in the calculation of the margin of error, E.
E = z?/2
? | ||
|
The value of
and a confidence level of
z?/2
is the z value corresponding to an upper tail area of
? |
2 |
1 − ?.
Common values for
z?/2
for various confidence levels are given below.Confidence Level | ? |
|
z?/2
|
||
---|---|---|---|---|---|
90% | 0.10 | 0.05 | 1.645 | ||
95% | 0.05 | 0.025 | 1.960 | ||
99% | 0.01 | 0.005 | 2.576 |
According to the table, for a 95% confidence level, the necessary value for
z?/2
is _____The survey was conducted among a sample of 63 discount brokers, and we are to assume a known population standard deviation of $14. Therefore, n = ____and ? = ____.
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