Question: A public policy research group is conducting a study of health care plans and would like to estimate the average dollars contributed annually to health

A public policy research group is conducting a study of health care plans and would like to estimate the average dollars contributed annually to health savings accounts by participating employees. A pilot study conducted a few months earlier indicated that the standard deviation of annual contributions to such plans was $1,225. The research group wants the study’s findings to be within $100 of the true mean with a confidence level of 90%. What sample size is required?

Step by Step Solution

3.43 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Step 1 Specify the desired margin of error The research group wants ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

645-M-S-O-T-P (1295).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!