A business analyst has been requested by the managing director of a national supermarket chain to undertake a business review of the company. One of the key objectives is to assess the level of...

A business analyst has been requested by the managing director of a national supermarket chain to undertake a business review of the company. One of the key objectives is to assess the level of spending of shoppers who, historically, have weekly mean levels of spending of €168.00 with a standard deviation of €15.65. Calculate the size of a random sample to produce a 98% confidence interval for the population mean spend, given that the interval is €30? Is the sample size appropriate given the practical factors?