A government survey conducted to estimate the mean price of houses in a metropolitan area is designed to have a margin of error of $10,000. Pilot studies suggest that the population standard deviation is $80,000. Estimate the minimum sample size needed to estimate the population mean with the stated accuracy.

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The Answer of A government survey conducted to estimate the mean price of houses in a metropolitan area is designed to have a margin of error of $10,000. Pilot studies suggest that the population standard deviation is $80,000. Estimate the minimum sample size needed to estimate the population mean with the stated accuracy.

A Government Survey Conducted to Estimate the Mean Price of Houses