SOLUTION: help please!! A random sample of 31 people employed by the Florida state authority established they earned an average wage (including benefits) of $56 per hour. The sample st

Question 930112: help please!!

A random sample of 31 people employed by the Florida state authority established they earned an average wage (including benefits) of $56 per hour. The sample standard deviation was $6.35 per hour.

(a) What is your best estimate of the population mean? (Omit the "$" sign in your response.)

Estimated population mean $

(b)
Develop a 99 percent 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 $2 at 95 percent confidence? (Round up your answer to the next whole number.)

Sample size

Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
Sample: n = 31, mean = $56, s = $6.35
a) Estimated population mean = $56
b) ME =2.576(6.35/sqrt(31) = 2.94
CI: $56�2.94, (53.06, 58.94)
c) n = (1.96(6.35)/2)^2 = 19.7580, 20 sample size (Always go to next Integer)
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