00:01
Hello students, in the question, they given that the upper bound is equal to 45000 and the lower bound is equal to 10000.
00:21
Then they given that confidence interval of 95 percentage, so alpha is equal to 0 .05.
00:29
Now the formula for calculating the sample size, n which is equal to z into sigma by margin of error e the whole square.
00:46
Now the value of z that is z alpha by 2 which is z 0 .05 by 2, we get 1 .96.
00:55
Then to find the sigma by thumb hand rule, we get range divided by 4.
01:05
Here range is equal to 45000 that is maximum value minus minimum value divided by 4.
01:13
We get 8750.
01:15
This is our standard deviation.
01:17
Now for the margin of error, e is equal to 500.
01:24
The sample size n is 1 .96 into 8750 divided by 500 the whole square.
01:33
We get 1176 .49 rounding to next integer...