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Sample size calculation

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In order to be accepted into a top university, applicants must score within the top 5% on the SAT exam. Given that SAT test scores are normally distributed with a mean of 1000 and a standard deviation of 200, what is the lowest possible score a student needs to qualify for acceptance into the university?

A) 1330
B) 1400
C) 1250
D) 1100

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Solution Summary

The solution provides step by step method for the calculation of sample size . Formula for the calculation and Interpretations of the results are also included.

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Statistics: Standard Error and Sampling Size

Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. The X column indicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for each client sampled.

a. Determine the regression equation.
b. Determine the estimated sales if 40 contacts are made.

Number of contacts: X
14, 12, 20, 16, 46

Sales($thousands): Y
24, 14, 28, 30, 80

Number of contacts: X
23, 48, 50, 55, 50

Sales (Thousands): Y
30, 90, 85, 120, 110

a. Determine the standard error of estimate.
b. Suppose a large sample is selected (instead of just 10). About 95 percent of the predictions regarding sales would occur between what two values?

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