An Economist Is Interested in Studying the Incomes of Consumers

question 34

Multiple Choice

An economist is interested in studying the incomes of consumers in a particular region. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in an average 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

---

Definitions:

Social Support

Assistance or comfort provided by others, which can be emotional, informational, or practical in nature.

Health Problems

Physical or mental conditions that disrupt an individual's normal functioning, well-being, or quality of life.

Type A Personality

A personality trait characterized by high levels of competitiveness, impatience, and a constant sense of urgency, often associated with a higher risk of stress-related illnesses.

Marital Status

The legally defined status of an individual with regard to marriage, such as single, married, divorced, or widowed.