Question 574212: A private medical clinic wants to estimate the true mean annual income of its patients. The clinic needs to be within $100 of the true mean. The clinic estimates that the true population standard deviation is around $2,100. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A private medical clinic wants to estimate the true mean annual income of its patients. The clinic needs to be within $100 of the true mean. The clinic estimates that the true population standard deviation is around $2,100. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy.
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n = [zs/E]^2 = [1.96*2100/100]^2 = 1695 when rounded up
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cheers,
Stan H.
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