Question
A union of restaurant and foodservice workers would like to estimate the mean hourly wage, , of foodservice workers in the U.S. The union will
A union of restaurant and foodservice workers would like to estimate the mean hourly wage,
, of foodservice workers in the U.S. The union will choose a random sample of wages and then estimate
using the mean of the sample. What is the minimum sample size needed in order for the union to be99
%
confident that its estimate is within$
0.50
of
? Suppose that the standard deviation of wages of foodservice workers in the U.S. is about$
2.10
.
Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements).
(If necessary, consult alist of formulas.)
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