How Large a Sample of Government Employees Should Be Taken

question 81

Multiple Choice

How large a sample of government employees should be taken if we want to estimate with 98%
Confidence the mean salary to within $2,000? The population standard deviation is assumed to be
$10,500. (Round up to the nearest whole number)

• A) 150
• B) 200
• C) 525
• D) 100
• E) 75

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Definitions:

Effective Interest

The real cost of borrowing or the actual interest rate earned, considering compounding and fees.

Amortize Discount

The gradual reduction of a bond discount over the life of the bond, expensed as interest over the period.

Straight-Line Method

The Straight-Line Method is a way of calculating depreciation of an asset, where the asset's cost is evenly spread over its useful life.

Other Than Temporary

Classification of impairments or losses indicating that the reduction in value is not expected to reverse in the near future.