Ou are trying to estimate the average amount a family spends on food during a year. In the past, the standard deviation of the amount a family has spent on food during a year has been σ = $1200. If you want to be 99% sure that you have estimated average family food expenditures within $60, how many families do you need to survey? Place your answer, a whole number, do not use any decimals, in the blank___.

Respuesta :

Answer:

The answer is "2653".

Step-by-step explanation:

[tex]Sample \ Size = 99\% \ Cl\\\\ E =60 \\\\\sigma= 1200\\\\[/tex]

Minimum sample size for Cl level [tex]= 99\%[/tex] and Desired Margin of Error, [tex]E = 60[/tex] is:  

[tex]\to P(|\bar{x}-\mu| < E) \geq 1-\alpha \\\\\to P(\frac{\bar{x}-\mu}{\frac{\sigma}{\sqrt{n}}} <- \frac{E}{\frac{\sigma}{\sqrt{n}}}) \leq \frac{\alpha}{2} \\\\\to - \frac{E}{\frac{\sigma}{\sqrt{n}}} \leq -z_{\frac{\alpha}{2}} \\\\\to n\geq (\frac{ z_{\frac{\alpha}{2} \times \alpha} }{E})^2 \\\\[/tex]

[tex]Margin \ Error = \frac{\text{length of the CI}}{2}\\\\\sigma=1200\\\\\alpha=1 - Confidence =1-0.99=0.01\\\\Z_{\frac{\alpha}{2}}=z_{0.005}=2.58\\\\n\geq (\frac{z_{0.005} \times \sigma }{E})^2 \\\\= (\frac{2.58 \times 1200 }{60})^2\\\\=2662.560\\[/tex]

The minimum n has to be integer, we take the ceiling Of above number and get n = 2663

The exact z-value.

[tex]n \geq (\frac{2.5758293035489 \times 1200}{60})^2 \\\\= 2653.95864[/tex]

using critical value of 2,575, which gives 2652.25  

[tex]\to n =2653[/tex]