MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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A sport analyst wants to determine the mean salary of a Baseball player
for 2015. He believes an estimate of this average salary using a
confidence interval is sufficient. How large a sample should he take to be
within $497,000 of the actual average with 80% confidence? He
calculates the standard deviation of salary for all baseball players for 2015
is about $5,478,384.55. Round your answer to whole number.
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Transcribed Image Text:A sport analyst wants to determine the mean salary of a Baseball player for 2015. He believes an estimate of this average salary using a confidence interval is sufficient. How large a sample should he take to be within $497,000 of the actual average with 80% confidence? He calculates the standard deviation of salary for all baseball players for 2015 is about $5,478,384.55. Round your answer to whole number.
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