As an Aid to the Establishment of Personnel Requirements, the Director

question 155

Short Answer

As an aid to the establishment of personnel requirements, the director of a hospital wishes to estimate the mean number of people who are admitted to the emergency room during a 24-hour period.The director randomly selects 64 different 24-hour periods and determines the number of admissions foreach.For this sample, $\bar { X } = 396$ and S = 100.Using the sample standard deviation as an estimate forthe population standard deviation, what size sample should the director choose if she wishes to estimate the mean number of admissions per 24-hour period to within 1 admission with 99% reliability?

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Definitions:

Interest Receivable

The amount of interest that has been earned but not yet received in cash.

Total Proceeds

The total amount received from a transaction, including the sale of assets, securities, or other property, before any deductions or expenses.

Sale

The exchange of a good or service for money; a transaction between two parties where the buyer acquires ownership of the item.

Interest Revenue

Income earned from lending money or other types of investments that yield interest.