An Economist Is Interested in Studying the Incomes of Consumers

question 163

Multiple Choice

An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in a mean income of $15,000. What total sample size would the economist need to use for a 95% confidence interval if the width of the interval should not be more than $100?

• A) n = 1537
• B) n = 385
• C) n = 40
• D) n = 20

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Definitions:

Anterior Cruciate Ligament

A key ligament located inside the knee joint that connects the thigh bone to the shin bone, crucial for stabilizing the knee.

Lateral Collateral Ligament

A ligament located on the lateral (outer) side of the knee, providing stability to the outer knee joint.

Supraspinous Fossa

The depression above the spine of the scapula on the dorsal surface, which houses the supraspinatus muscle.