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 99 % confident that the sample mean is correct to within +/- $40 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $279. a. How large a sample is necessary? b. If management wants to be correct to within +/- $25, 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 99 % confident that the sample mean is correct to within +/- $40 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $279. a. How large a sample is necessary? b. If management wants to be correct to within +/- $25, how many employees need to be selected?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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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 99 % confident that the sample mean is correct to within +/- $40 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $279.
a. How large a sample is necessary?
b. If management wants to be correct to within +/- $25, how many employees need to be selected?
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