A state cooperative department is performing a survey to determine the annual salary earned by managers numbering 3000 in the cooperative sector within the state.how large a sample size it should take in order to estimate the mean annual earnings within plus and minus 1000 and at 95 per cent confidence level the standard deviation of annual earnings of the entire population is known to be 3000
A state cooperative department is performing a survey to determine the annual salary earned by managers numbering 3000 in the cooperative sector within the state.how large a sample size it should take in order to estimate the mean annual earnings within plus and minus 1000 and at 95 per cent confidence level the standard deviation of annual earnings of the entire population is known to be 3000
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
A state cooperative department is performing a survey to determine the annual salary earned by managers numbering 3000 in the cooperative sector within the state.how large a sample size it should take in order to estimate the mean annual earnings within plus and minus 1000 and at 95 per cent confidence level the standard deviation of annual earnings of the entire population is known to be 3000
Expert Solution
Step 1
Given that the confidence level is at 95 percent.
So, the Z-value is: .
It is required to estimate the mean annual earnings within plus and minus 1000.
Suppose, teh standard error is .
So,
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