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Population mean annual family medical expenses

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A survey is planned to determine the mean annual family medical expenses of employees of a large company. The management of the company wishes to be 95?% confident that the sample mean is correct to within plus or minus±?$60 of the population mean annual family medical expenses.

a. How large a sample is? necessary?

b. If management wants to be correct to within plus or minus ±?$25, how many employees need to be? selected?

Reference no: EM131871751

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