A survey is planned to determine the mean annual family medical expenses of employees of a large company The management of the company wishes to be 95% confident that the sample mean is correct to within +$75 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $404. a. How large a sample is necessary? b. If management wants to be correct to within +$15, how many employees need to be selected?
A survey is planned to determine the mean annual family medical expenses of employees of a large company The management of the company wishes to be 95% confident that the sample mean is correct to within +$75 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $404. a. How large a sample is necessary? b. If management wants to be correct to within +$15, how many employees need to be selected?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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