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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
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 $ 50 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $252.
a. How large a sample is necessary?
n= ___
(Round up to the nearest integer.)
b. If management wants to be correct to within $25, how many employees need to be selected?
n= ___
(Round up to the nearest integer.)
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