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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 $448.
- How large a sample isnecessary? (Round up to the nearestinteger.)
- If management wants to be correct to within $20, how many employees need to beselected? (Round up to the nearestinteger.)
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