A random sample of 27 people employed by the Florida state authority established

Question

A random sample of 27 people employed by the Florida state authority established they earned an average wage (including benefits) of $57.00 per hour. The sample standard deviation was $5.81 per hour. (Use z Distribution Table.) a. What is the best estimate of the population mean? Estimated population mean $ b. Develop a 99% 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 99% confidence? (Round up your answer to the next whole number.) Sample size

Explanation / Answer

a) estimate of population mean is $57

b) C.I = (57 - 2.576*5.81/sqrt(27) , 57 + 2.576*5.81/sqrt(27))

C.I = (54.12 , 59.88)

c) 2* 2.576 * 5.81 / sqrt(n) = 1

implies sqrt(n) = 30

implies n = 900

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