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(b) suppose you want to estimate the average age of all boeing 727 airplanes now in active domestic u.s. service. you want to be 95% confident and you want a margin of error of 2 years. suppose the population standard deviation is 6.24 years. how large a sample should you take?



Answer :

37.40 is  large a sample should you take in confidence interval.

What does confidence interval mean?

  • Your estimate's mean plus and minus the range of that estimate's fluctuation is called a confidence interval.
  • If you repeat your test, you can expect your estimate to fall between these numbers with a reasonable degree of certainty.
  • In statistics, confidence is another word for probability.

For the 95% confident interval of population mean , the margin of error (ME)

       ME = Z 1 - 0.05/2 5/√n

           2 = 1.96 * 6.24/√n

          n = ( 1.94 * 6.24/2)²

           n = 37.40

the required sample size (n) is 38 .

Learn more about confidence interval

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