A recent article in a business journal reported that the mean annual salary for graduates from 30 top MBA programs 10 years after graduation is $275,000 Assume the standard deviation is $54,50024Keep the error probability at α = 0.05. We want to build an interval which captures 95% of the sample means within ±$5,000 from the population mean. What is the minimum sample size that would yield such an interval? a411 b457 c508 d564

In this question we have to find out the minimum sample size that would yield such an interval with…

Answered: A recent article in a business journal…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A recent article in a business journal reported that the mean annual salary for graduates from 30 top MBA programs 10 years after graduation is $275,000 Assume the standard deviation is $54,500

24	Keep the error probability at α = 0.05. We want to build an interval which captures 95% of the sample means within ±$5,000 from the population mean. What is the minimum sample size that would yield such an interval?

a	411
b	457
c	508
d	564

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