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

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A Survey Is Planned To Determine The Mean Annual Family Medical Expenses Of Employees Of A Large Company The Management 1 (20.05 KiB) Viewed 102 times

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 $367. a. How large a sample is necessary? b. If management wants to be correct to within +$15, how many employees need to be selected? Click here to view page 1 of the cumulative standardized normal distribution table. Click here to view page 2 of the cumulative standardized normal distribution table. a. How large a sample is necessary? (Round up to the nearest integer.) b. If management wants to be correct to within ±$15, how many employees need to be selected? (Round up to the nearest integer.) n= n=