Determine the Sample Size Necessary for Estimating the Population Mean

question 8

Short Answer

Determine the Sample Size Necessary for Estimating the Population Mean within a Specified Margin of Error
-In order to set rates, an insurance company is trying to estimate the number of sick days that full time workers at a local bank take per year. A previous study indicated that the standard deviation was 2.5 days. a) How large a sample must be selected if the company wants to be 98% confident that the true mean differs from the sample mean by no more than 1 day b) Repeat part (a) using a 99% confidence interval. Which level of confidence requires a larger sample size Explain.

---

Definitions:

Hypnotized

A state of highly focused attention or concentration, often associated with relaxation and heightened suggestibility.

Anesthesia

A medical procedure involving the administration of drugs to temporarily eliminate sensation, typically to allow surgical procedures to be performed without pain.

Early Childhood

A period in human development generally ranging from birth to eight years old, during which the foundations of physical, emotional, and intellectual growth are laid.

Emotionally Painful Experiences

Events or situations that result in significant distress and discomfort on an emotional level.