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Sample Size Calculation using standard deviation and margin of error.

An auditor wants to estimate the mean annual expenditure (across departments) on a particular item.  They seek accuracy within a range of ± $100.The population standard deviation is estimated to be $250.  How numerous departments would they require to survey to achieve this level of accuracy with 95 percent confidence?

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  • Category:- Statistics and Probability
  • Reference No.:- M922232

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