Suppose that a researcher is interested in estimating the mean systolic blood pressure, μ of executives of major corporations. He plans to use the blood pressures of random sample executives of major corporations to estimate μ. Assuming that the standard deviation of the population of systolic blood pressures of executives of major corporations is 27 mm Hg, what is the minimum sample size needed for the researcher to be 95% confident that his estimate is within 4 mm Hg of μ ? Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements).

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.