Assume that all grade-point averages are to be standardized on a scale between 0 and 6. how many grade-point averages must be obtained so that the sample mean is within 0.01 of the population mean? assume that a 98% confidence level is desired. if using the range rule of thumb, sigma can be estimated as . does the sample size seem practical?

The sample size should be 122,150 and the sample size is not practical.

Step-by-step explanation:

Consider the provided information.

The sample mean is within 0.01 of the population mean.

E=0.01

σ=1.5

Confidence level is 98%

1-α=0.98

α=1-0.98=0.02

Formula for sample size is:

By using the normal probability table:

Substitute the respective values in the above formula.

Sample size doesn't seem practical as 122,150 is extremely large number.