Item 3
1 answer:
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Answer:
The number of business students that must be randomly selected to estimate the mean monthly earnings of business students at one college is 64.
Step-by-step explanation:
The (1 - <em>α</em>) % confidence interval for population mean is:
The margin of error for this interval is:
The information provided is:
<em>σ</em> = $569
MOE = $140
Confidence level = 95%
<em>α</em> = 5%
Compute the critical value of <em>z</em> for <em>α</em> = 5% as follows:
*Use a <em>z</em>-table.
Compute the sample size required as follows:
Thus, the number of business students that must be randomly selected to estimate the mean monthly earnings of business students at one college is 64.