A Medical Devices Company Wants to Know the Number of Hours

question 108

Multiple Choice

A medical devices company wants to know the number of hours its MRI machines are used per day. A previous study found a standard deviation of four hours. How many MRI machines must the company find data for in order to have a margin of error of at most 0.5 hour when calculating a 98% confidence interval?

• A) 346.26
• B) 347
• C) 424.69
• D) 425

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Definitions:

Equally

In a manner that is the same in quantity, size, degree, or value for all parties involved.

Salary Allowance

Additional compensation provided to employees on top of their regular salary, often for specific purposes or expenses.

Capital Balance

The amount of capital attributable to the owners or shareholders of a company, often reflected in the equity section of the balance sheet.

Net Income

The company's net income, calculated by subtracting all costs and taxes from its total earnings.