# Question: Consider again the problem of estimating the mean age

Consider again the problem of estimating the mean age, μ, of all people in the civilian labor force.

In Example 8.7 on page 322, we found that a sample size of 2250 is required to have a margin of error of 0.5 year and a 95% confidence level. Suppose that, due to financial constraints, the largest sample size possible is 900. Determine the greatest confidence level, given that the margin of error is to be kept at 0.5 year. Recall that σ = 12.1 years.

Extending the Concepts and Skills

In Example 8.7 on page 322, we found that a sample size of 2250 is required to have a margin of error of 0.5 year and a 95% confidence level. Suppose that, due to financial constraints, the largest sample size possible is 900. Determine the greatest confidence level, given that the margin of error is to be kept at 0.5 year. Recall that σ = 12.1 years.

Extending the Concepts and Skills

**View Solution:**## Answer to relevant Questions

Professor Thomas Stanley of Georgia State University has surveyed millionaires since 1973. Among other information, Professor Stanley obtains estimates for the mean age, μ, of all U.S. millionaires. Suppose that one year's ...A variable has a mean of 100 and a standard deviation of 16. Four observations of this variable have a mean of 108 and a sample standard deviation of 12. Determine the observed value of the a. Standardized version of ...For a t-curve with df = 21, find each t-value, and illustrate your results graphically. a. The t-value having area 0.10 to its right b. t0.01 c. The t-value having area 0.025 to its left (A t-curve is symmetric about 0.) d. ...x-bar = 50, n = 16, s = 5, confidence level = 99% We have provided a sample mean, sample size, sample standard deviation, and confidence level. In each case, use the one-mean t-interval procedure to find a confidence ...Explain the difference between a point estimate of a parameter and a confidence-interval estimate of a parameter.Post your question