28. An online survey by ShareBuilder, a retirement plan provider, and Harris Interactive reported that 60% of

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28. An online survey by ShareBuilder, a retirement plan provider, and Harris Interactive reported that 60% of female business owners are not confident they are saving enough for retirement (SmallBiz, Winter 2006). Suppose we would like to do a follow-up study to determine how much female business owners are saving each year toward retirement and want to use $100 as the desired margin of error for an interval estimate of the population mean. Use $1100 as a planning value for the standard deviation and recommend a sample size for each of the following situations.

a. A 90% confidence interval is desired for the mean amount saved.

b. A 95% confidence interval is desired for the mean amount saved.

c. A 99% confidence interval is desired for the mean amount saved.

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Essentials Of Statistics For Business And Economics

ISBN: 9780324568608

5th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

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