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How large a sample is needed

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An automobile insurance firm wants to find the average amount per claim for auto body repairs. Its summary records combine amounts for body repair with all other repair amounts, so a sample of individual claims must be taken. A 95% confidence interval with a width no greater than $50 is wanted. A "horseback guess" says that the standard deviation is about $400. How large a sample is needed?

Reference no: EM131972048

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