An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in a mean income of $15,000. What total sample size would the economist need to use for a 95% confidence interval if the width of the interval should not be more than $100?

A) n = 40 B) n = 1537 C) n = 385 D) n = 20

B

Business

You might also like to view...

Which of the following types of samples enables the researcher to compute sampling error?

a. nonprobability b. convenience c. probability d. all of these

Business

How S-Corps usually obtains capital, if needed?

What will be an ideal response?

Business