Annual starting salaries for college graduates with degrees in business administration are generally expected to be between%30,000and $35,000. Assume that a95%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? Round your answer to next whole number.

$270?

$70?

c.Would you recommend trying to obtain the$70margin of error? Explain.

Thanks!