Mathematics, 14.06.2021 16:00, MeHelp101
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $50,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. Determine the planning value for the population standard deviation.
1. Determine how large a sample should be taken if the desired margin of error is:
a. $500
b. $200
c. $100
2. Would you recommend trying to obtain the $100 margin of error? Explain
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