SOLUTION: A random sample of 22 people employed by the Florida state authority established they earned an average wage (including benefits) of $61.00 per hour. The sample standard deviation

Question 1092192: A random sample of 22 people employed by the Florida state authority established they earned an average wage (including benefits) of $61.00 per hour. The sample standard deviation was $5.66 per hour. (Use t Distribution Table.)

a. What is the best estimate of the population mean?

Estimated population mean $___?

b.
Develop a 98% confidence interval for the population mean wage (including benefits) for these employees. (Round your answers to 2 decimal places.)

Confidence interval for the population mean wage is between ____ and _____.

c.
How large a sample is needed to assess the population mean with an allowable error of $1.00 at 95% confidence? (Round up your answer to the next whole number.)

Sample size ___?

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
Best estimate of population mean is the sample mean, or $61.00.
The SE is $5.66/sqrt(22)=1.207
CI half interval is +/- tdf=21,0.99,*SE
that is +/- 2.518*1.207=3.04
the CI is mean +/-interval or (57.96, 64.04)
---------------
For allowable error of 1
t*SE has to be 1
use z first 1.96*5.66/sqrt(n)=1
sqrt(n)=1.96*5.66
square both sides
n=123.06 or 124. Z can be used here.
RELATED QUESTIONS
A random sample of 22 people employed by the Florida state authority established they... (answered by ewatrrr)

A random sample of 22 people employed by the Florida state authority established they... (answered by Boreal)

A random sample of 23 people employed by the Florida state authority established they... (answered by ewatrrr)

help please!! A random sample of 31 people employed by the Florida state authority... (answered by ewatrrr)

Another Question , Help Please A survey of 20 randomly sampled judges employed by the (answered by stanbon,rothauserc)

A local county has an unemployment rate of 8%. A random sample of 19 employable people... (answered by ikleyn)

A local county has an unemployment rate of 4.7%. A random sample of 17 employable people... (answered by ikleyn)

For wages less than the maximum taxable wage base, Social Security contributions... (answered by psbhowmick)

For wages less than the maximum taxable wage base, Social Security contributions... (answered by Theo)