Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 99% confident that the sample mean is correct to within $60 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $397.

a. How large a sample isnecessary?

b. If management wants to be correct to within $20, how many employees need to beselected?

Click here to view page 1 of the cumulative standardized normal distribution table.1

Click here to view page 2 of the cumulative standardized normal distribution table.2

a. How large a sample isnecessary?

n=

(Round up to the nearestinteger.)

b. If management wants to be correct to within $20, how many employees need to beselected?

n=

(Round up to the nearestinteger.)

Cumulative Probabilities

Z

0.00

0.01

0.02

0.03

0.04

0.05

0.06

0.07

0.08

0.09

6.0

0.000000001

5.5

0.000000019

5.0

0.000000287

4.5

0.000003398

4.0

0.000031671

3.9

0.00005

0.00005

0.00004

0.00004

0.00004

0.00004

0.00004

0.00003

0.00003

0.00003

3.8

0.00007

0.00007

0.00007

0.00006

0.00006

0.00006

0.00006

0.00005

0.00005

0.00005

3.7

0.00011

0.00010

0.00010

0.00010

0.00009

0.00009

0.00008

0.00008

0.00008

0.00008

3.6

0.00016

0.00015

0.00015

0.00014

0.00014

0.00013

0.00013

0.00012

0.00012

0.00011

3.5

0.00023

0.00022

0.00022

0.00021

0.00020

0.00019

0.00019

0.00018

0.00017

0.00017

3.4

0.00034

0.00032

0.00031

0.00030

0.00029

0.00028

0.00027

0.00026

0.00025

0.00024

3.3

0.00048

0.00047

0.00045

0.00043

0.00042

0.00040

0.00039

0.00038

0.00036

0.00035

3.2

0.00069

0.00066

0.00064

0.00062

0.00060

0.00058

0.00056

0.00054

0.00052

0.00050

3.1

0.00097

0.00094

0.00090

0.00087

0.00084

0.00082

0.00079

0.00076

0.00074

0.00071

3.0

0.00135

0.00131

0.00126

0.00122

0.00118

0.00114

0.00111

0.00107

0.00103

0.00100

2.9

0.0019

0.0018

0.0018

0.0017

0.0016

0.0016

0.0015

0.0015

0.0014

0.0014

2.8

0.0026

0.0025

0.0024

0.0023

0.0023

0.0022

0.0021

0.0021

0.0020

0.0019

2.7

0.0035

0.0034

0.0033

0.0032

0.0031

0.0030

0.0029

0.0028

0.0027

0.0026

2.6

0.0047

0.0045

0.0044

0.0043

0.0041

0.0040

0.0039

0.0038

0.0037

0.0036

2.5

0.0062

0.0060

0.0059

0.0057

0.0055

0.0054

0.0052

0.0051

0.0049

0.0048

2.4

0.0082

0.0080

0.0078

0.0075

0.0073

0.0071

0.0069

0.0068

0.0066

0.0064

2.3

0.0107

0.0104

0.0102

0.0099

0.0096

0.0094

0.0091

0.0089

0.0087

0.0084

2.2

0.0139

0.0136

0.0132

0.0129

0.0125

0.0122

0.0119

0.0116

0.0113

0.0110

2.1

0.0179

0.0174

0.0170

0.0166

0.0162

0.0158

0.0154

0.0150

0.0146

0.0143

2.0

0.0228

0.0222

0.0217

0.0212

0.0207

0.0202

0.0197

0.0192

0.0188

0.0183

1.9

0.0287

0.0281

0.0274

0.0268

0.0262

0.0256

0.0250

0.0244

0.0239

0.0233

1.8

0.0359

0.0351

0.0344

0.0336

0.0329

0.0322

0.0314

0.0307

0.0301

0.0294

1.7

0.0446

0.0436

0.0427

0.0418

0.0409

0.0401

0.0392

0.0384

0.0375

0.0367

1.6

0.0548

0.0537

0.0526

0.0516

0.0505

0.0495

0.0485

0.0475

0.0465

0.0455

1.5

0.0668

0.0655

0.0643

0.0630

0.0618

0.0606

0.0594

0.0582

0.0571

0.0559

1.4

0.0808

0.0793

0.0778

0.0764

0.0749

0.0735

0.0721

0.0708

0.0694

0.0681

1.3

0.0968

0.0951

0.0934

0.0918

0.0901

0.0885

0.0869

0.0853

0.0838

0.0823

1.2

0.1151

0.1131

0.1112

0.1093

0.1075

0.1056

0.1038

0.1020

0.1003

0.0985

1.1

0.1357

0.1335

0.1314

0.1292

0.1271

0.1251

0.1230

0.1210

0.1190

0.1170

1.0

0.1587

0.1562

0.1539

0.1515

0.1492

0.1469

0.1446

0.1423

0.1401

0.1379

0.9

0.1841

0.1814

0.1788

0.1762

0.1736

0.1711

0.1685

0.1660

0.1635

0.1611

0.8

0.2119

0.2090

0.2061

0.2033

0.2005

0.1977

0.1949

0.1922

0.1894

0.1867

0.7

0.2420

0.2389

0.2358

0.2327

0.2296

0.2266

0.2236

0.2206

0.2177

0.2148

0.6

0.2743

0.2709

0.2676

0.2643

0.2611

0.2578

0.2546

0.2514

0.2483

0.2451

0.5

0.3085

0.3050

0.3015

0.2981

0.2946

0.2912

0.2877

0.2843

0.2810

0.2776

0.4

0.3446

0.3409

0.3372

0.3336

0.3300

0.3264

0.3228

0.3192

0.3156

0.3121

0.3

0.3821

0.3783

0.3745

0.3707

0.3669

0.3632

0.3594

0.3557

0.3520

0.3483

0.2

0.4207

0.4168

0.4129

0.4090

0.4052

0.4013

0.3974

0.3936

0.3897

0.3859

0.1

0.4602

0.4562

0.4522

0.4483

0.4443

0.4404

0.4364

0.4325

0.4286

0.4247

0.0

0.5000

0.4960

0.4920

0.4880

0.4840

0.4801

0.4761

0.4721

0.4681

0.4641

Cumulative Probabilities

Z

0.00

0.01

0.02

0.03

0.04

0.05

0.06

0.07

0.08

0.09

0.0

0.5000

0.5040

0.5080

0.5120

0.5160

0.5199

0.5239

0.5279

0.5319

0.5359

0.1

0.5398

0.5438

0.5478

0.5517

0.5557

0.5596

0.5636

0.5675

0.5714

0.5753

0.2

0.5793

0.5832

0.5871

0.5910

0.5948

0.5987

0.6026

0.6064

0.6103

0.6141

0.3

0.6179

0.6217

0.6255

0.6293

0.6331

0.6368

0.6406

0.6443

0.6480

0.6517

0.4

0.6554

0.6591

0.6628

0.6664

0.6700

0.6736

0.6772

0.6808

0.6844

0.6879

0.5

0.6915

0.6950

0.6985

0.7019

0.7054

0.7088

0.7123

0.7157

0.7190

0.7224

0.6

0.7257

0.7291

0.7324

0.7357

0.7389

0.7422

0.7454

0.7486

0.7517

0.7549

0.7

0.7580

0.7611

0.7642

0.7673

0.7704

0.7734

0.7764

0.7794

0.7823

0.7852

0.8

0.7881

0.7910

0.7939

0.7967

0.7995

0.8023

0.8051

0.8078

0.8106

0.8133

0.9

0.8159

0.8186

0.8212

0.8238

0.8264

0.8289

0.8315

0.8340

0.8365

0.8389

1.0

0.8413

0.8438

0.8461

0.8485

0.8508

0.8531

0.8554

0.8577

0.8599

0.8621

1.1

0.8643

0.8665

0.8686

0.8708

0.8729

0.8749

0.8770

0.8790

0.8810

0.8830

1.2

0.8849

0.8869

0.8888

0.8907

0.8925

0.8944

0.8962

0.8980

0.8997

0.9015

1.3

0.9032

0.9049

0.9066

0.9082

0.9099

0.9115

0.9131

0.9147

0.9162

0.9177

1.4

0.9192

0.9207

0.9222

0.9236

0.9251

0.9265

0.9279

0.9292

0.9306

0.9319

1.5

0.9332

0.9345

0.9357

0.9370

0.9382

0.9394

0.9406

0.9418

0.9429

0.9441

1.6

0.9452

0.9463

0.9474

0.9484

0.9495

0.9505

0.9515

0.9525

0.9535

0.9545

1.7

0.9554

0.9564

0.9573

0.9582

0.9591

0.9599

0.9608

0.9616

0.9625

0.9633

1.8

0.9641

0.9649

0.9656

0.9664

0.9671

0.9678

0.9686

0.9693

0.9699

0.9706

1.9

0.9713

0.9719

0.9726

0.9732

0.9738

0.9744

0.9750

0.9756

0.9761

0.9767

2.0

0.9772

0.9778

0.9783

0.9788

0.9793

0.9798

0.9803

0.9808

0.9812

0.9817

2.1

0.9821

0.9826

0.9830

0.9834

0.9838

0.9842

0.9846

0.9850

0.9854

0.9857

2.2

0.9861

0.9864

0.9868

0.9871

0.9875

0.9878

0.9881

0.9884

0.9887

0.9890

2.3

0.9893

0.9896

0.9898

0.9901

0.9904

0.9906

0.9909

0.9911

0.9913

0.9916

2.4

0.9918

0.9920

0.9922

0.9925

0.9927

0.9929

0.9931

0.9932

0.9934

0.9936

2.5

0.9938

0.9940

0.9941

0.9943

0.9945

0.9946

0.9948

0.9949

0.9951

0.9952

2.6

0.9953

0.9955

0.9956

0.9957

0.9959

0.9960

0.9961

0.9962

0.9963

0.9964

2.7

0.9965

0.9966

0.9967

0.9968

0.9969

0.9970

0.9971

0.9972

0.9973

0.9974

2.8

0.9974

0.9975

0.9976

0.9977

0.9977

0.9978

0.9979

0.9979

0.9980

0.9981

2.9

0.9981

0.9982

0.9982

0.9983

0.9984

0.9984

0.9985

0.9985

0.9986

0.9986

3.0

0.99865

0.99869

0.99874

0.99878

0.99882

0.99886

0.99889

0.99893

0.99897

0.99900

3.1

0.99903

0.99906

0.99910

0.99913

0.99916

0.99918

0.99921

0.99924

0.99926

0.99929

3.2

0.99931

0.99934

0.99936

0.99938

0.99940

0.99942

0.99944

0.99946

0.99948

0.99950

3.3

0.99952

0.99953

0.99955

0.99957

0.99958

0.99960

0.99961

0.99962

0.99964

0.99965

3.4

0.99966

0.99968

0.99969

0.99970

0.99971

0.99972

0.99973

0.99974

0.99975

0.99976

3.5

0.99977

0.99978

0.99978

0.99979

0.99980

0.99981

0.99981

0.99982

0.99983

0.99983

3.6

0.99984

0.99985

0.99985

0.99986

0.99986

0.99987

0.99987

0.99988

0.99988

0.99989

3.7

0.99989

0.99990

0.99990

0.99990

0.99991

0.99991

0.99992

0.99992

0.99992

0.99992

3.8

0.99993

0.99993

0.99993

0.99994

0.99994

0.99994

0.99994

0.99995

0.99995

0.99995

3.9

0.99995

0.99995

0.99996

0.99996

0.99996

0.99996

0.99996

0.99996

0.99997

0.99997

4.0

0.999968329

4.5

0.999996602

5.0

0.999999713

5.5

0.999999981

6.0

0.999999999

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Number Theory

Authors: Charles Vanden Eynden

2nd Edition

1478639113, 9781478639114

More Books

Students also viewed these Mathematics questions

Question

=+b) Compute the SD for each decision.

Answered: 1 week ago

Question

1. What is the meaning of the information we are collecting?

Answered: 1 week ago

Question

3. How much information do we need to collect?

Answered: 1 week ago

Question

2. What types of information are we collecting?

Answered: 1 week ago