Math

ProbabilityQ&A LibraryAnnual starting salaries for college graduates with degrees in business administration are generally expected to be between $30,000 and $45,000. 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? How large a sample should be taken if the desired margin of error isb.$500?c.$200?d.$100?e.Would you recommend trying to obtain the $100 margin of error? Explain.Question

Asked Mar 10, 2020

23 views

Annual starting salaries for college graduates with degrees in

business administration are generally expected to be between $30,000 and

$45,000. 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?

How large a sample should be taken if the desired margin of error is

b.$500?

c.$200?

d.$100?

e.Would you recommend trying to obtain the $100 margin of error? Explain.

1 Rating

Step 1

a.

From the given information, annual starting salaries are expected to be between $30,000 and $45,000.

Then, the planning value for the population standard deviation is

Thus, the planning value for the population standard deviation is $3,750.

b.

From the given information,

Then, the sample size for the margin of error $500 is

Thus, the sample size for the margin of error $500 is 216.

Step 2

c.

The sample size for the margin of error $200 is

Thus, the sample size for the margin of error $200 is 1351.

...Tagged in

Find answers to questions asked by student like you

Show more Q&A

Q: I have the answer written as .7025 but I don't know how to get to it?

A: (20) The percentage of individuals over age 50 suffer from arthritis is 10%. The percentage of ind...

Q: One common system for computing a grade point average (GPA) assigns 4 points to an A, 3 points to ...

A: The information is provided as:

Q: Find the complement of the set given that U = {x | x I and −3 ≤ x ≤ 7}. (Enter your answers as a com...

A: First we write U in roster form.

Q: What percentage of people partake in physical activity and abstain from smoking, but do not eat frui...

A: Click to see the answer

Q: A classic counting problem is to determine the number of different ways that the letters of "magical...

A: The number of letters in word “magically” = 9 Number of times the letter “a” is repeated = 2 Number ...

Q: Eleven players have gathered to play 5-on-5 basketball. (a) If they have decided that one of the tea...

A: a) From a group of 11 players, we can pick a 5 player team in 11C5 ways. When 5 players have been p...

Q: This problem involves students who have taken Calculus in high school. Assume that 35 percent of stu...

A: Taken calculus in high school: 0.35 Plan to major in science=0.65 Do not plan to major in science=...

Q: Parts A and B

A: The probabilities are listed that were presented by the prosecution for the known characteristics of...

Q: The student test scores for a nationwide standardized test have an unknown distribution with mean 25...

A: It is given that the mean and standard deviation of the test points are 259 and 38 points respective...