A researcher wants to estimate the mean income of a population with a 95% confidence level and a margin of error of $100. How large should the sample size be for the estimation?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter4: Equations Of Linear Functions
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A researcher wants to estimate the mean income of a population with a 95% confidence level and a margin of error of $100. How large should the sample size be for the estimation?
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Step 1

To determine the sample size required for the estimation, we can use the formula for sample size based on the margin of error: 

n = (Z^2 * σ^2) / E^2 

where Z is the Z-score for the desired confidence level (e.g. for 95% confidence, Z = 1.96), σ is the standard deviation of the population, and E is the desired margin of error.

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