10 May Before Launching A New Video Game Production Venture, You Wish To Study The Expenditure …
Before launching a new video game production venture, you wish to study the expenditure of the average teenager in video games per year. You know that some kids don’t play video games at all (expenditure of 0), while, from a recent news article, you know that the kid who set a record last year spent all of his allowance on video games, totaling $ 500 during the year (which gives you the range for your study). If you want the error of your estimate to be $10 or less, and a 95% confidence level, what size should your sample be? (Hint: in this case the standard deviation must be estimated)
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