In a Sample Survey of 68 High-Tech Companies, Pelham Associates

question 56

Multiple Choice

In a sample survey of 68 high-tech companies, Pelham Associates reported that the average training budget per employee for companies in the sample was $894.Assume the sample was selected from a population of 1320 companies, and that the standard deviation for the sample was $446.Build a 95% confidence interval estimate of the average training budget per employee for the population of high-tech firms represented here.Now suppose you want to reduce the margin of error for the interval you produced to $20, without sacrificing confidence.How big a sample size would you recommend?

• A)781
• B)1824
• C)1911
• D)924
• E)1135

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