want to obtain a sample to estimate how much parents spend on their kids birthday parties. I believe the population standard deviation is approximately 45.1 dollars. I would like to be 98% confident that I estimate is within 2 dollars of average spending on the birthday parties. How many parents do I have to sample?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
I want to obtain a sample to estimate how much parents spend on their kids birthday parties. I believe the population standard deviation is approximately 45.1 dollars. I would like to be 98% confident that I estimate is within 2 dollars of average spending on the birthday parties. How many parents do I have to sample?
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