Answer to Question #226866 in Economics of Enterprise for rong

Question #226866

The useful life of a certain type of light bulb is known to have a= 40 hours. Hoe large a sample should be taken standard deviation of it is desired to have a margin of error of 10 hours or less at a 95% level of confidence?


1
Expert's answer
2021-08-17T16:57:04-0400

useful life =40 hours

Margin of Error= 10 hours

At 95% level of confidence

"n=(\\frac {(z)(\\sigma)}{MOE})^2"


For 95% level of confidence, standard deviation "\\sigma" = 0.05

"\\therefore" "n=(\\frac {(40)(0.05)}{10})^2"

"=0.04"

"\\implies"Interval of the sample ranges up to 0.04 (overall upper limit)


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