A random sample of professional wrestlers was obtained, and the annual salary(in dollars) for each w

Tayyib Cornish

Tayyib Cornish

Answered question

2022-03-04

A random sample of professional wrestlers was obtained, and the annual salary(in dollars) for each was recorded. The summary statistics were x=47,500 and n=18. Assume the distribution of annual salary is normal with σ=8,500
a. Find a 90% confidence interval for the true mean annual salary for all professional wrestlers.
b. How large a sample is necessary in order for the bound on the error of estimation to be 3000?

Answer & Explanation

Maximilian Searle

Maximilian Searle

Beginner2022-03-05Added 5 answers

Step 1
As you know, a 90% confidence interval is of the form
X±1.645σn.
The margin of error is M=1.645σn. For (b) set M=3000 and solve for n.

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