Annual starting salaries for college graduates with degrees in business administ

Question

Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. How large a sample should be taken if the desired margin of error is: a. $300? Remove all commas from your answer before submitting b. $170Remove all commas from your answer before submitting. c. $70? Remove all commas from your answer before submitting. d. Would you recommend trying to obtain the $70 margin of error? Explain.

Explanation / Answer

planning value = (45000-10000)/4 = 35000/4 = 8750

a. $300?
n = (Za/2* /E)^2
n = (1.96* 8750/300)^2
n = 3268.03

b. $170?
n = (Za/2* /E)^2
n = (1.96*8750 /170)^2
n = 10,177.25
C) $70?

n = (Za/2* /E)^2
n = (1.96* 8750/70)^2
n = 60,025

D)yes $70 i recommended it.here n is high.

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