Explore BrainMass
Share

Sample Size

This content was STOLEN from BrainMass.com - View the original, and get the solution, here!

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 + or - $500 from a sample taken 2 years ago, you estimate that the standard deviation of income for this population is about $5000 your job is to figure out the necessary sample size to reduce the confidence interval to +/- $500

a. What sample size should be drawn to meet the director's requirement at the 95% level of confidence?
b. What sample size should be drawn to meet the director's requirement at the 99% level of confidence?

© BrainMass Inc. brainmass.com September 21, 2018, 4:01 pm ad1c9bdddf - https://brainmass.com/statistics/sample-size-determination/sample-size-278047

Solution Summary

The solution provides step by step method for the calculation of sample size. Formula for the calculation and Interpretations of the results are also included.

$2.19