Mathematics, 24.11.2021 14:00, cjrogers4401

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 90%
confident that the sample mean is correct to within
±$60
of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately
$281.
a. How large a sample is necessary?
b. If management wants to be correct to within
±$15,
how many employees need to be selected?

Answers: 3

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A survey is planned to determine the mean annual family medical expenses of employees of a large com...