Even though Japan is an economic superpower, Japanese workers are in many ways worse off than their
Question:
Even though Japan is an economic superpower, Japanese workers are in many ways worse off than their US and European counterparts. For example, the estimated average housing space per person (in square feet) is 832 in the United States but only 379 in Japan (shrinkthatfootprint.com). Suppose a team of economists and sociologists from the United Nations plans to reestimate the difference in the mean housing space per person for US and Japanese workers. Assume that equal sample sizes will be used for each country and that the standard deviation is 35 square feet for Japan and 80 for the United States. How many people should be sampled in each country to estimate the difference to within 10 square feet with 95% confidence?
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780136855354
14th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich