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In: Statistics and Probability

The Chamber of Commerce of Tampa Bay, Florida, would like to estimate the average amount of...

The Chamber of Commerce of Tampa Bay, Florida, would like to estimate the average amount of money spent by a visitor in Florida with 95% confidence. Assume that the underlying distribution is normal and the standard deviation is $200. What sample size would be necessary for the Chamber of Commerce to meet its objective in estimating this average amount if population mean is within $20 of the sample mean?

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orchestra answered 1 year ago
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