Sample size for estimating population mean

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Reference no: EM1390963

1. It is believed that the range of hourly wages paid to auto mechanics in a large city is $9 (range approx. = 4sigma-squared). If we assume that hourly wages are approximately normally distributed, how large a sample is necessary so that with probability 0.99 the sample mean will be within one dollar of the true average hourly wages?

Reference no: EM1390963

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