In: Accounting
In developing patient appointment schedules, a medical center wants to estimate the mean time that a staff member spends with each patient. How large a sample should be taken if the desired margin of error is two minutes at a 95% level of confidence? How large a sample should be taken for a 99% level of confidence? Use a planning value for the population standard deviation of 7 minutes. 95% Confidence (to the nearest whole number): 99% Confidence (to the nearest whole number):
Solution: | |||
Sample size | |||
95% Confidence | 48 | ||
99% Confidence | 82 | ||
Working Notes: | |||
95% Confidence | |||
Sample should be taken for a 95% level of confidence (n)= {[(z-value)(sd)]/E}^2 | |||
Z-value at 95% level of confidence =1.96 | |||
s.d is the standard deviation of population = 7 minutes. | |||
E= desired margin of error = 2 minutes | |||
(n)= {[(z-value)(sd)]/E}^2 | |||
=((1.96 x 7)/2)^2 | |||
=47.0596 | |||
=48 | |||
99% Confidence | |||
Sample should be taken for a 99% level of confidence (n)= {[(z-value)(sd)]/E}^2 | |||
Z-value at 99% level of confidence =2.5758 | |||
s.d is the standard deviation of population = 7 minutes. | |||
E= desired margin of error = 2 minutes | |||
(n)= {[(z-value)(sd)]/E}^2 | |||
=((2.5758 x 7)/2)^2 | |||
=81.27563409 | |||
=82 | |||
Please feel free to ask if anything about above solution in comment section of the question. |