Estimate of population mean annual starting salary desired

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Reference no: EM131007025

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. How large a sample should be taken if the desired margin of error is:

a. $500? Remove all commas from your answer before submitting.

b. $200? Remove all commas from your answer before submitting.

c. $100? Remove all commas from your answer before submitting.

d. Would you recommend trying to obtain the $100 margin of error? Explain.

Reference no: EM131007025

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