Homework SoursePast experience indicates that the variance in the time it t
Past experience indicates that the variance in the time it takes for a \"fast lube\" operation to actually complete the lube and oil change for customers is 9.00 minutes. The manager wishes to estimate the mean time with 99 percent confidence and a margin of error of ± 0.50 minutes. Given this, what must the sample size be?
Past experience indicates that the variance in the time it takes for a \"fast lube\" operation to actually complete the lube and oil change for customers is 9.00 minutes. The manager wishes to estimate the mean time with 99 percent confidence and a margin of error of ± 0.50 minutes. Given this, what must the sample size be?
Past experience indicates that the variance in the time it takes for a \"fast lube\" operation to actually complete the lube and oil change for customers is 9.00 minutes. The manager wishes to estimate the mean time with 99 percent confidence and a margin of error of ± 0.50 minutes. Given this, what must the sample size be?
Solution
Compute Sample Size
n = (Z a/2 * S.D / ME ) ^2
Z/2 at 0.01% LOS is = 2.58 ( From Standard Normal Table )
Standard Deviation ( S.D) = 3
ME =0.5
n = ( 2.58*3/0.5) ^2
= (7.74/0.5 ) ^2
= 239.63 ~ 240
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