A random sample of 19 people used by the Florida state authority established they earned an average wage (comprising benefits) of $59 per hour. The sample standard deviation was $6.45 per hour.
(a) What is your best estimate of population mean? (Omit the "tiny_mce_markerquot; sign in your response.)
Estimated population mean $
(b) Develop a 98 percent confidence interval for the population mean wage (including benefits) for these employees. (Round your answers to 2 decimal places.)
Confidence interval for the population mean wage is between ________ and _________.
(c) How large a sample is needed to assess the population mean with an allowable error of $2 at 95 percent confidence? (Round up your answer to the next whole number.)
Sample size