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A random sample of 28 people employed by the Florida state authority established they earned an...

A random sample of 28 people employed by the Florida state authority established they earned an average wage (including benefits) of $65.00 per hour. The sample standard deviation was $6.14 per hour. (Use t Distribution Table.) a. What is the best estimate of the population mean? b. Develop a 98% confidence interval for the population mean wage (including benefits) for these employees. (Round your answers to 2 decimal places.) c. How large a sample is needed to assess the population mean with an allowable error of $2.00 at 95% confidence? (Round up your answer to the next whole number)

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Answer #1

What is the best estimate of the population mean?

The best estimate of the population mean is $65, the sample mean

Develop a 98% confidence interval for the population mean wage (including benefits) for these employees. (Round your answers to 2 decimal places.)

(62.13, 67.87)

c. How large a sample is needed to assess the population mean with an allowable error of $2.00 at 95% confidence? (Round up your answer to the next whole number)

n = (1.96(6.14)/2)^2 = 18.10335

= 19 (Round up your answer to the next whole number)

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