Calculate a confidence interval for the mean weekly salary

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A simple random sample of 225 workers in a large factory had weekly salaries with a sample mean of $600 and a population standard deviation of $30. (a) Calculate a 99% confidence interval for the mean weekly salary of all workers in the factory. (b) How many more workers should be sampled if it is required that the estimate must be within L3 of the true average (again, with 99% confidence)? Hint: This means a tolerance of L3 - equivalent to a confidence interval width of $6.

Reference no: EM132907275

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