Question #2000629: Confidence Intervals


Question: Sample size for weight of Quarters The two video game corporation finds that it is losing income because of slugs used in its video games. The machines must be adjusted to accept coins only if they fall within set limits. In order to set those limits, the mean weight of quarters in the circulation must be estimated. A sample of quarters will be weighed in order to determine the mean. How many quarters must we randomly select and weigh if we want to be 99% confident that the sample mean is within 0.025g of the true population mean for all quarters? Based on results from the sample of quarters in Data below, we can estimate that the population standard deviation is 0.068g

5.60 5.63 5.58 5.56 5.66 5.58 5.57 5.59 5.67 5.61 5.84 5.73 5.53 5.58 5.52 5.65 5.57 5.71 5.59 5.53 5.63 5.68 5.62 5.60 5.53 5.58 5.60 5.58 5.59 5.66 5.73 5.59 5.63 5.66 5.67 5.60 5.74 5.57 5.62 5.73 5.60 5.60 5.57 5.71 5.62 5.72 5.57 5.70 5.60 5.49

Solution: The solution consists of 237 words (1 page)
Deliverables: Word Document

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