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Part 2b Based on a sample of 500 salaries in a large city we want to find a confidence interval for the average salary in

Part 2b

Based on a sample of 500 salaries in a large city we want to find a confidence interval for the average salary in that city. Please note that the histogram of salaries is not normal but quite skewed.

The margin of error for the confidence interval, which was based on 500 salaries, turns out to be $5,400. How many salaries do we need to sample in order to shrink the margin of error to about $2,000? (5 marks)

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