How large a sample of federal employees in Nevada 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.

Mean Salary

The average salary calculated by summing all salaries and dividing by the number of salaries.

Population Standard Deviation

A measure of the spread of a set of values in a population, giving insight into the variability within the entire population.

Sample Size

The number of observations or elements selected from a population to be included in a sample.

Compute the required sample size for estimating the means of a population with an intended margin of error, given a specific level of confidence and known population standard deviation.
Apply the formula for determining sample size in various contexts, including salary estimation and consumer income studies.

Verified Answer

Final Answer :

n = 150

Learning Objectives

Compute the required sample size for estimating the means of a population with an intended margin of error, given a specific level of confidence and known population standard deviation.
Apply the formula for determining sample size in various contexts, including salary estimation and consumer income studies.