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Exercise 13

Avg difficulty 3.0

Car insurance savings. A market researcher wants to evaluate car insurance savings at a competing company. Based on past studies he is assuming that the standard deviation of savings is $100. He wants to collect data such that he can get a margin of error of no more than $10 at a 95% confidence level. How large of a sample should he collect?

Diez, Barr & Çetinkaya-Rundel, OpenIntro Statistics, Inference for numerical data, End-of-Chapter Exercises, Exercise 13

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Adapted from OpenIntro Statistics © 2019 David Diez, Mine Çetinkaya-Rundel & Christopher D. Barr. Licensed under CC BY-SA 3.0. Source: OpenIntro Statistics. Imported at revision fee2509.