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Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $40,000. Assume that a 95% confidence
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $40,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. Given the information in the Microsoft Excel Online le below, construct a spreadsheet to determine how large a sample should be taken for each desired margin of error. XE a. For a margin of error of :t $500 , the required sample size is n = b. For a margin of error of :l: $170 , the required sample size is n = NW c. For a margin of error of i $130 , the required sample size is n = d. Would you recommend trying to obtain the $130 margin of error? Explain. V Check My Work Reset Problem A B C D E F G H I J K L M N Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $40,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. W N How large a sample should be taken for each desired margin of error below? 4 5 Starting Salary Desired margin of error 6 7 Lower 10000 500 8 Upper 40000 9 170 10 11 130 12 13 14 15 16 17 18
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