Annual starting salaries for college graduates with degrees in business administration are generally expected to...
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Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 and $50,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. a. What is the planning value for the population standard deviation? X 400 b. How large a sample should be taken if the desired margin of error is $500? Use a rounded z value (2 decimals) in your calculations. Round your answer for n to next whole number. O = $270? $80? c. Would you recommend trying to obtain the $80 margin of error? Explain. - Select your answer
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 and $50,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. a. What is the planning value for the population standard deviation? = b. How large a sample should be taken if the desired margin of error is $500 ? Use a rounded z value ( 2 decimals) in your calculations. Round your answer for n to next whole number. $270? $80 ? c. Would you recommend trying to obtain the $80 margin of error? Explain
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