BUSINESS 38035-You are to conduct a sample survey to determine the
Subject: Mathematics / Statistics
You are to conduct a sample survey to determine the mean family income in a rural area of central Florida. The question is, how many families should be sampled? In a pilot sample of 10 families, the standard deviation of the sample was $500. The sponsor of the survey wants you to use the 95 percent confidence level. The estimate is to be within $100. How many families should be interviewed?