A Financial Analyst Would Like to Construct a 95% Confidence

question 42

Short Answer

A financial analyst would like to construct a 95% confidence interval for the mean earnings of a company. The company's earnings have a standard deviation of $12 million. What is the minimum sample size required by the analyst if he wants to restrict the margin of error to $2 million?

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Definitions:

Reference Laboratory

A specialized lab that performs testing beyond the scope of routine clinical laboratories, often for complex or uncommon tests.

Control Samples

Standard or reference samples used in experiments to ensure that the results are due to the condition being tested rather than other variables.

Standard

A specimen for which test values are already known; used to calibrate test equipment.

Medical Assistant

A healthcare professional who supports the work of physicians and other health professionals, usually in a clinic setting, through a variety of tasks.