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June 29, 2015

Homework Help: statistics

Posted by Anonymous on Friday, September 27, 2013 at 9:01pm.

A Social service agency plans to conduct a survey to determine the mean income of its clients. The director of the agency prefers that you measure the mean income very accurately, to within plus or minus $500. from a sample taken 2 years ago, you estimate that the standard deviation of income for this population is about $5000. I need to figure out the necessary sample size to reduce the confidence interval to plus/minus$500

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