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In determining the sample size for estimating a population mean, the number of factors must be known is: 
  • a)
    2
  • b)
    3
  • c)
    4
  • d)
    5
Correct answer is option 'B'. Can you explain this answer?
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In determining the sample size for estimating a population mean, the n...
Sample Size for Estimating a Population Mean

In order to estimate a population mean, it is necessary to determine the sample size. The sample size refers to the number of individuals or observations that need to be included in the sample in order to obtain a reliable estimate of the population mean.

Factors Affecting Sample Size

There are several factors that need to be considered when determining the sample size for estimating a population mean. These factors include:

1. Variability of the Population: The greater the variability in the population, the larger the sample size needed to obtain a reliable estimate of the population mean. This is because a larger sample size helps to reduce the impact of outliers and extreme values on the estimate.

2. Level of Confidence: The desired level of confidence also affects the sample size. A higher level of confidence requires a larger sample size to ensure that the estimate is within a certain margin of error.

3. Margin of Error: The margin of error is the maximum amount of error that is acceptable in the estimate. A smaller margin of error requires a larger sample size to obtain a more precise estimate.

4. Standard Deviation: The standard deviation of the population also plays a role in determining the sample size. A larger standard deviation requires a larger sample size to obtain a reliable estimate.

Number of Factors to be Known

According to the question, the number of factors that must be known in order to determine the sample size for estimating a population mean is three. These factors are:

1. Variability of the Population: The variability or standard deviation of the population must be known or estimated.

2. Level of Confidence: The desired level of confidence must be specified. Common levels of confidence include 90%, 95%, and 99%.

3. Margin of Error: The acceptable margin of error must be determined. This is usually expressed as a percentage or a specific value.

Once these three factors are known, statistical formulas or tables can be used to determine the appropriate sample size. These formulas take into account the factors mentioned above and provide guidance on the minimum sample size required for a given level of confidence and margin of error.

Conclusion

In conclusion, the number of factors that must be known in order to determine the sample size for estimating a population mean is three. These factors include the variability of the population, the desired level of confidence, and the acceptable margin of error. By considering these factors, a reliable estimate of the population mean can be obtained.
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In determining the sample size for estimating a population mean, the number of factors must be known is:a)2b)3c)4d)5Correct answer is option 'B'. Can you explain this answer?
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