Question
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
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. Given the information in the Microsoft Excel Online file below, construct a spreadsheet to determine how large a sample should be taken for each desired margin of error.a.For a margin of error of ? $300 , the required samplesize is n =b. For a margin of error of ? $190 , the required samplesize is n =c. For a margin of error of ? $70 , the required samplesize is n =d. Would you recommend trying to obtain the $70margin of error? Explain.
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