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I want to estimate the average price of a certain computer. How many websites should Icheck in order to be 90% confident that I am within $40 of the actual price? Assume σ =$56

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Answer: 5

Step-by-step explanation:

The formula for calculating margin of error for the population mean is expressed as

margin of error = z x σ/√n

where

z is the z score for a 90% confidence level. From the normal distribution table, z = 1.645

σ is the population standard deviation

n is the sample size or number of website that should be checked.

From the information given,

σ = 56

margin of error = 40

By substituting these values into the formula, we have

40 = 1.645 x 56/√n

40 = 92.12/√n

By cross multiplying, we have

40√n = 92.12

√n = 92.12/40

Squaring both sides,

n = (92.12/40)^2

n = 5.3

Approximately, number of website that should be checked is 5

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