Sample Size Determination for an Insurance Company
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1) In order to set rates, an insurance company is trying to estimate the number of sick days that full time workers at an auto repair shop take each year. A previous study indicated the standard deviation was 2.8 days. How large a sample must be selected if the company wants to be 95% confident that the true mean differs from the sample mean no more than 1 day?
A) 1024 B) 512 C)313 D)141
2) A manufacturer of golf equipment wishes to estimate the number of left handed golfers. How large a sample is needed to be 98% confident that the sample proportion will not differ from the true proportion by more than 5%? A previous study indicates that the proportion of left hand golfers is 8%.
A) 114 B) 41 C) 174 D) 160
3) Fifty five percent of registered voters in a congressional district are registered Democrats. The Republican candidate takes a poll to assess his chances in a two candidate race. He polls 1200 potential voters and finds that 621 plan to vote for the Democratic candidate. Does the Republican candidate have a chance to win? Use a=0.05
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Solution Summary
The solution determines the sample size for an insurance company, golf equipment manufacturer, and political candidates.
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1. In order to set rates, an insurance company is trying to estimate the number of sick days that full time workers at an auto repair shop take each year. A previous study indicated the standard deviation was 2.8 days. How large a sample must be selected if the company wants to be 95% confident that the true mean differs from the sample mean no more than 1 day?
A) 1024 B) 512 C)313 D)141
No correct answer is given
Correct Answer
The minimum sample size is given by
Details
Sample Size Determination
Data
Population Standard Deviation 2.8
Sampling Error 1
Confidence Level 95%
Intermediate Calculations
Z ...
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