A union of restaurant and foodservice workers would like to estimate the meanhourly wage,µ, of foodservice workers in the U.S. The union will choose a random sampleof wages and then estimate µ using the mean of the sample. What is the minimum sample size needed in order for the union to be 90% confident that its estimate is within $0.45 of µ ? Suppose that the standard deviationof wages of foodservice workers in the U.S. is about $2.15.
Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements).
Can you please explain to me how to do this problem?
The solution examines standard deviation and means.