In: Statistics and Probability
Suppose that the minimum and maximum ages for typical textbooks
currently used in college courses are 00 and 88 years. Use the
range rule of thumb to estimate the standard deviation.
Standard deviation = Find the size of the sample
required to estimage the mean age of textbooks currently used in
college courses. Assume that you want 9292% confidence that the
sample mean is within 0.250.25 year of the population mean.
Required sample size =
Solution
Given ,
Minimum = 0
Maximum = 8
So , Range = maximum - minimum = 8 - 0 = 8
According to the range rule of thumb , the population SD is given by
= Range/4 = 8/4 = 2
Now , given that , c = 92% = 0.92 (Confidence level)
E = 0.25 (margin of error)
= 1- c = 1- 0.92 = 0.08
/2 = 0.08 2 = 0.04 and 1- /2 = 0.960
Search the probability 0.960 in the Z table and see corresponding z value
= 1.751
Now, sample size (n) is given by,
= {(1.75 * 2)/ 0.25 }2
= 196
Answer : Required sample size = 196