(Solved) PART C: (Sample size determination) you plan to conduct a sample survey to determine the mean family income in a rural area of central Florida.
Question: PART C: (Sample size determination) you plan to conduct a sample survey to determine the mean family income in a rural area of central Florida. The question is how many families should be sampled? In a pilot sample of 50 families, the standard deviation of the family income was $500. The sponsor of the survey wants you to use the 99 percent confidence interval. The estimate is to be within $100. How many families should be interviewed? (Show work.)
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