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    Mockingbird's Avatar
    Mockingbird Posts: 1, Reputation: 1
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    #1

    Jul 19, 2005, 02:04 PM
    Population Size
    What is the minimum population size from which one can draw a random sample and have a 95% confidence level?
    reinsuranc's Avatar
    reinsuranc Posts: 92, Reputation: 6
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    #2

    Jul 20, 2005, 04:39 PM
    95% confidence level
    I will rephrase your problem slightly.

    If we take n samples from a population that has the normal distribution with mean MU and standard deviation SIGMA, and calculate the sample mean XBAR from our sample, then what is the value for n so that the probability is 95% that XBAR will be close to MU?

    (XBAR - MU)/(SIGMA/SQUAREROOT(n)) = 1.96

    SQUAREROOT(n) = 1.96SIGMA/.95

    n = (1.96SIGMA/.95)^2
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