889131 Q Search this course ment Asignment Soore 1 : Chapter 8 Assignment Exerci

Question

889131 Q Search this course ment Asignment Soore 1 : Chapter 8 Assignment Exercise 08.27 Aleorime Check My Wor Annual starting salaries for college graduates with degrees in business adninistration are oenerally expected to be between s confidence interval estimat" of the poplation mean aread starting salary S desired. 10,000 and $45,000. Assume that a a. What is the planning valae for the population standard deviation? b. How large a sample shouild be takon if the desired margin of error i $300 Round your answer to next whole number $270 $130 C. Would you recemmend trying to obtain the $130 margin of crrort Expli Check My Work

Explanation / Answer

A) sigma=(45000-10000)/4=35000/4=8750

.................

B)

sigma= 8750

MOE= 300

Zalpha/2= 1.96

we know the relation,

E=Z(alpha/2)*sigma/sqrt(n)

n= 3268.027778

n= 3269.............for MOE 300

sigma= 8750

MOE= 270

Zalpha/2= 1.96

we know the relation,

E=Z(alpha/2)*sigma/sqrt(n)

n= 4034.602195

n= 4035..............for MOE 270

sigma= 8750

MOE= 130

Zalpha/2= 1.96

we know the relation,

E=Z(alpha/2)*sigma/sqrt(n)

n= 17403.69822

n= 17404..............for MOE 130

for 130 MOE sample size is larger so it give more accurate results.

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