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Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 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? b. How large a sample should be taken if the desired margin of error is $300? Round your answers to next whole number. $230? $140?

Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 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? b. How large a sample should be taken if the desired margin of error is $300? Round your answers to next whole number. $230? $140?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 23PFA
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Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired.

Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 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? O = b. How large a sample should be taken if the desired margin of error is $300? Round your answers to next whole number. $230? $140?
Transcribed Image Text:Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 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? O = b. How large a sample should be taken if the desired margin of error is $300? Round your answers to next whole number. $230? $140?
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