In our example of research on lipstick,where E = $2 and S = $29, what sample size would we require if we desired a 99percent confidence level? What about if we keep the 95 percent confidencelevel,...

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In our example of research on lipstick, where E = $2 and S = $29, what sample size would we require if we desired a 99 percent confidence level? What about if we keep the 95 percent confidence level, but decide that our acceptable error is $4?



Answered Same DayDec 20, 2021

Answer To: In our example of research on lipstick,where E = $2 and S = $29, what sample size would we require...

David answered on Dec 20 2021
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In our example of research on lipstick, where E = $2 and S = $29, what sample size would we require if we desired a 99 percent confidence level? What about if we keep the 95 percent confidence level, but decide that our acceptable error is $4?
Solution:
We have E = 2, α = 1 – 0.99 = 0.01 and S =...
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