Estimate is within 3 days of the true mean

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In order to set rates, an insurance company is trying to estimate the number of sick days that full time workers at a local bank take per year. Based on earlier studies it is known that the standard deviation is 12.3 days per year. How large a sample must be selected if the company wants to be 95% confident that their estimate is within 3 days of the true mean?

Reference no: EM132483930

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