Posted by **Panther** on Sunday, April 14, 2013 at 9:41pm.

An economist wants to estimate the mean income for the first year of work for college

graduates who majored in biology. How many such incomes must be found if the

economist wants to be 95% confident that the sample mean is within $500 of the true

population mean? Assume that research has found that the population standard

deviation for such incomes is equal to $6,250.

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