Calculation of Confidence Interval and Sample Size
Not what you're looking for?
Please show work, step by step.
1) Suppose a fast food restaurant wishes to estimate average sales volume for a new menu item. The restaurant has analyzed the sales of the item at a similar outlet and observed the following results:
X = 500 (mean daily sales)
s = 100 (standard deviation of sample)
n = 50 (sample size)
The restaurant manager wants to know into what range the mean daily sales should fall 95 percent of the time. Perform the calculation.
2) Suppose you are planning to sample cat owners to determine the average number of cans of cat food they purchase monthly. The following standards have been set: a confidence level of 95 percent and an error of less than five units. Past research has indicated that the standard deviation should be 6 units. What is the required sample size?
3) In a survey of 500 people, 60 percent responded with agreement to an attitude question. Calculate a confidence interval at 95 percent to get an interval estimate for a proportion.
4) A researcher expects the population proportion of Cubs fans in Chicago to be 80 percent. The researcher wishes to have an error of less than 5 percent and to be 95 percent confident of an estimate to be made from a mail survey. What sample size is required?
Purchase this Solution
Solution Summary
This solution is comprised of detailed step-by-step calculations and analysis of the given problems related to Confidence Intervals and provides students with a clear perspective of the underlying concepts.
Education
- MSc, Osmania University
- MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
- BSc, Banaras Hindu University
Recent Feedback
- "Very fast turnaround. Excellent communication! Much appreciated!"
- "excellent"
- "excellent"
- "excellent work"
- "Fantastic..great solution and very well explained!!!!"
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.