FINDING SAMPLE SIZE Instead of using Table 7-2 for determining the sample size required to estimate a population standard deviation σ, the following formula can also be used
where corresponds to the confidence level and d is the decimal form of the percentage error. For example, to be 95% confident that s is within 15% of the value of σ, use zα/2=1.96 and d=0.15 to get a sample size of n=86. Find the sample size required to estimate the standard deviation of IQ scores of data scientists, assuming that we want 98% confidence that s is within 5% of σ.