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

---

Definitions:

Collection tubes

Tubes specifically designed for the collection and transport of specimens, such as blood, for medical testing.

Calibrated

Adjusted precisely for a particular function.

Green stopper

Refers primarily to the color-coded stopper found on certain medical or laboratory vials, often indicating specific chemical additives or uses.

Collection tube

A tube used in medical settings for the collection of bodily fluids or gases for diagnostic testing.