Answer:
a)
b)
c)
Explanation:
Part a
The confidence interval for the mean is given by the following formula:
(1)
The Confidence is 0.98 or 98%, the value of
and
, and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-NORM.INV(0.01,0,1)".And we see that
Now we have everything in order to replace into formula (1):
Part b
Part c
The margin of error is given by this formula:
(a)
And on this case we have that ME =0.4/2 =0.2 we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
The critical value for 95% of confidence interval now can be founded using the normal distribution. And in excel we can use this formla to find it:"=-NORM.INV(0.025;0;1)", and we got
, replacing into formula (b) we got: