Hinta) Check My Work nual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 and $35,000. Assume that a 95% confidence interval estimate off e population mean annual starting salary is desired. What is the planning value for the population standard deviation? 3750 How large a sample should be taken if the desired margin of error is $400? Use a rounded z value (2 decimals) in your calculations. Round your answer for n t 338 507 37 Would you recommend trying to obtain the $80 margin of error? Explain. the sample size would probably whole number

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Hypothesis Testing

In statistics, there are two ways to calculate the sample data. One is descriptive statistics and the other is inferential statistics.  In descriptive statistics, all of the information is defined through graphs and charts. In inferential statistics, it allows one to test the hypothesis and it is always used to predict the data. Inferential statistics has two main areas: estimating parameters and hypothesis testing. A hypothesis is a statement about the unknown parameter of the population which we want to verify from the information available from the sample. The premise may or may not be true. The estimation of the whole population would be a reasonable way of deciding if the statistical hypothesis is valid. There are two types of hypotheses. They are null hypothesis and alternative hypothesis.