[Solution] Determine the required minimum sample size to construct a 99% confidence interval for Population I income mean. (You may use the sample standard
Question: Determine the required minimum sample size to construct a 99% confidence interval for Population I income mean. (You may use the sample standard deviation computed from the sample in Table B as an estimate of the population standard deviation). The estimate of the population mean must be:
- Within $1000 of the population mean. (Margin of error = $1000)
- Within $3000 of the population mean.
- Within $5000 of the population mean.
Compare the sample sizes for different confidence intervals.
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