# Determining the Required Sample Size

An economist is interested in studying the incomes of consumers in a particular region. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in an average income of $15,000. What sample size would the economist need to use for a 95% confidence interval if the width of the interval should not be more than $100?

© BrainMass Inc. brainmass.com October 10, 2019, 7:02 am ad1c9bdddfhttps://brainmass.com/statistics/descriptive-statistics/determining-required-sample-size-565415

#### Solution Summary

This solution provides a brief, but complete explanation of how to calculate sample size. All required calculations are included.

$2.19