Answer:
The minimum number of samples required is [tex]n = 16641 [/tex]
Step-by-step explanation:
From the question we are told that
The variance is [tex]\sigma^2 = 0.25[/tex]
The margin of error is [tex]E = 0.01[/tex]
From the question we are told the confidence coefficient is 0.99 , hence the level of significance is
[tex]\alpha = (1 - 0.99 ) \%[/tex]
=> [tex]\alpha = 0.01[/tex]
Generally from the normal distribution table the critical value of [tex]\frac{\alpha }{2}[/tex] is
[tex]Z_{\frac{\alpha }{2} } = 2.58[/tex]
Generally the standard deviation is
[tex]\sigma =\sqrt{\sigma^2}[/tex]
=> [tex]\sigma =\sqrt{0.25}[/tex]
=> [tex]\sigma =0.5[/tex]
Generally the sample size is mathematically represented as
[tex]n = [\frac{Z_{\frac{\alpha }{2} } * \sigma }{E} ] ^2[/tex]
=> [tex]n = [\frac{2.58 } * 0.5 }{0.01 } ] ^2[/tex]
=> [tex]n = 16641 [/tex]
