Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $25,000 and $35,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. A. What is the planning value for the population standard deviation? ______ B. How large a sample should be taken if the desired margin of error is $300? Round your answer to next whole number. ___________ $230? ___________________ $80? _________________ c. Would you recommend trying to obtain the $80 margin of error? Explain.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $25,000 and $35,000. Assume that a 95% confidence
A. What is the planning value for the population standard deviation? ______
B. How large a sample should be taken if the desired margin of error is $300? Round your answer to next whole number. ___________
$230? ___________________
$80? _________________
c. Would you recommend trying to obtain the $80 margin of error? Explain.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
