How large a sample size do we need to estimate the mean annual income of Native Americans

Question:

How large a sample size do we need to estimate the mean annual income of Native Americans in Onondaga County, New York, correct to within $1000 with probability 0.99? No information is available to us about the standard deviation of their annual income. We guess that nearly all of the incomes fall between $0 and $120,000 and that this distribution is approximately bell shaped.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: