Chapter 8 Interval Estimation

Chapter 8 Interval Estimation


1. 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. What is the planning value for the population standard deviation (to the nearest whole number)? 2. How large a sample should be taken if the desired margin of error is as shown below (to the nearest whole number)?a. $500? b. $200?c. $100?

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