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A survey is planned to determine the mean annual family medical expenses of employees of a...

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 95​% confident that the sample mean is correct to within ±​$50 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately ​$370.

a. How large a sample is​ necessary?

b. If management wants to be correct to within

plus or minus±​$2525​,

how many employees need to be​ selected?

Math   Statistics-And-Probability   
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Answer #1

z critical value for 95% confidence level, both tailed test be:-

a).given data are:-

the needed sample size be:-

b).given data are:-

the needed sample size be:-

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