Alarge company is considering opening a franchise in st. louis and wants to estimate the mean household income for the area using a simple random sample of households. based on information from a pilot study, the company assumes that the standard deviation of household incomes is σ = $7,200. of the following, which is the least number of households that should be surveyed to obtain an estimate that is within $200 of the true mean household income with 95 percent confidence?

4979  is the least number of households that should be surveyed to obtain an estimate that is within $200 of the true mean household income with 95 percent confidence.      

Step-by-step explanation:

We are given the following in the question:

Standard Deviation, σ = $7,200

Margin of error =

We have to find the least number of households that should be surveyed to obtain an estimate that is within $200.

Formula:

4979  is the least number of households that should be surveyed to obtain an estimate that is within $200 of the true mean household income with 95 percent confidence.

i believe the correct answer is b.