A car dealership likes to estimate the mean of balance owed


A car dealership likes to estimate the mean of balance owed by those who financed their auto purchase. The population standard deviation is estimated to be $3000. If 95% confidence interval isused and interval of $1200 is desired, what should be the sample size? Need to know the steps of how to get to answer so I can learn it not just answer.

Solution Preview :

Prepared by a verified Expert
Basic Statistics: A car dealership likes to estimate the mean of balance owed
Reference No:- TGS02655988

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)