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8.38. Survey is planned to determine the mean annual family medical expenses of employees of a large company. The management of the company wishes to
8.38. 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 within $50 of the population mean annual family medical expenses. The previous study indicates that the standard deviation is approximately $400. A. How large a sample is necessary? B. If the management wants to be correct to within 25 how many employees need to be selected?
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