A business wants to estimate the true mean annual income of its customers. It randomly samples 200 of its customers. The mean annual income was $55,200 with a standard deviation of $1,500. Find a 95% confidence interval for the true mean annual income of the business’ customers. A business wants to estimate the true mean annual income of its customers. The business needs to be within $200 of the true mean. The business estimates the true population standard deviation is around $1,300. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy. An automobile safety engineer wants to estimate the mean cost to repair a Chevy Corvette involved in a 30 mile per hour head-on collision. The engineer crashes 18 Corvettes and finds the mean damage is $17,500 with a standard deviation of $2,400. Find a 95% confidence interval for the true mean cost to repair this type of car. An auditor wants to estimate what proportion of a bank’s commercial loan files are incomplete. The auditor wants to be within 7% of the true proportion when using a 95% confidence level. How many files must the auditor sample? No estimate of the proportion is available, so use 0.5 for the population proportion.