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In order to set rates, an insurance company is trying to estimate the number of sick days that full time welders in an oilfield welding
In order to set rates, an insurance company is trying to estimate the number of sick days that full time welders in an oilfield welding company take per year. A previous study indicated that the standard deviation was 8.2 days. How large a sample must be selected if the company wants to be 90% confident that the true mean differs from the sample mean by no more than 2 days? [3 marks]
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