A high-tech company wants to estimate the average number of years of college education its employees completed. A good estimate of the standard deviation for the number of years of college is 1.0. (need the process can be by hand ,Excel or R.) a) How large a sample must be to estimate µ within a maximum error of 0.5 of a year with 99% confidence? b) If the previous study found that the estimated average of years was 2.5 years, what is the confidence interval corresponding to 99% confidence, assuming normality?

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A high-tech company wants to estimate the average number of years of college education its employees completed. A good estimate of the standard deviation for the number of years of college is 1.0. 

(need the process can be by hand ,Excel or R.)


a) How large a sample must be to estimate µ within a maximum error of 0.5 of a year with 99% confidence?

b) If the previous study found that the estimated average of years was 2.5 years, what is the confidence interval corresponding to 99% confidence, assuming normality?

[Answers     a) 27              b)  2.0054   ≤ µ ≤  2.9946]

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