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1. A sample survey is to be conducted to determine the mean family income in an...

1. A sample survey is to be conducted to determine the mean family income in an area. The question is how many families should be sampled? In order to get more information about the area, a small pilot survey was conducted, and the standard deviation of the sample was computed to be $400 with the mean of $60,000. The sponsor of the survey wants you to use the 0.99 degree of confidence. The estimate is to be within $90. How many families should be interviewed?

Math   Statistics-And-Probability   
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Answer #1

Number of families should be interviewed is 132.

calculation done by using margin of error formula.

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