For this day we were given time to finish our assignments that will be passed for Wednesday, but before we got to answer it, Ms. Macatigos gave us a very short lesson.
Our Lesson is How to Determine the minimum sample size for finding a confidence interval for the mean.
The formula for the sample size is derived from the maximum error of estimate formula.
Example:
The college president asks the statistics teacher to estimate the average age of the students at their college. How large a sample is necessary? The statistics teacher would like to be 99% confident that the estimate should be accurate within one year. From a previous study, the standard deviation of the ages is known to be 3 years.
Round up to 60. Therefore, in order to be 99% confident that the estimate is within one year of the true mean age, the teacher needs a sample of at least 60 students.
Every time that we went out of the 4 corners of our room in Advanced Stat., we must be sure that there is a new idea that we had discovered for this day.
by: Kent Spencer Manalo Mendez
III-Gold
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