Question

Annual salaries for graduates are expected to be between $30,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual sling salary is desired. How large a sample should be taken if the desired margin of error is $250.

92

likes
458 views

Answer to a math question Annual salaries for graduates are expected to be between $30,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual sling salary is desired. How large a sample should be taken if the desired margin of error is $250.

Expert avatar
Sigrid
4.5
120 Answers
**Step 1:**
Given parameters:
Desired Margin of Error (ME): $250
Confidence Level: 95%

**Step 2:**
Calculate the estimated population standard deviation ( \sigma ):
Given range: $30,000 to $45,000 which covers approximately 6 standard deviations
\sigma = \frac{Range}{6} = \frac{45000 - 30000}{6} = \frac{15000}{6} = 2500

**Step 3:**
Calculate the required sample size ( n ):
Substitute \sigma and z into the formula for n :
n = \left(\frac{1.96 \times 2500}{250}\right)^2

Calculating step by step:
1. \frac{1.96 \times 2500}{250} = 19.6
2. 19.6^2 = 384.16

Therefore, approximately \boxed{384} participants would be required for the sample.

Frequently asked questions (FAQs)
Question: Solve the cubic equation: x³ + 4x² - x - 6 = 0.
+
What is the length of an unknown side in a triangle with two known side lengths of 10 and 15, and an included angle of 45 degrees?
+
What is the value of 2 raised to the power of 5 multiplied by the square root of 16, all divided by 4?
+
New questions in Mathematics
a ferry travels 1/6 of the distance between two ports in 3/7 hour. The ferry travels at a constant rate. At this rate, what fraction of the distance between the two ports can the ferry travel in one hour.
How do you think the company has increased or decreased its income?
The data set (75, 85, 58, 72, 70, 75) is a random sample from the normal distribution No(µ, σ). Determine a 95% two-sided confidence interval for the mean µ .
-3x 2y = -6; -5x 10y = 30
To celebrate the five-year anniversary of a consultancy specializing in information technology, the administrator decided to draw 3 different qualification courses among its 10 employees. Considering that the same employee cannot be drawn more than once, the total number of different ways of drawing among employees is:
A National Solidarity Bond offers A 5 year bond offering a gross return of 15% Calculate the AER for this investment. (Give your answer to two decimal places, no need for the percent or € sign in your answer)
There are 162 students enrolled in the basic mathematics course. If the number of women is 8 times the number of men, how many women are there in the basic mathematics course?
solve for x 50x+ 120 (176-x)= 17340
Lim x → 0 (2x ^ 3 - 10x ^ 7) / 5 * x ^ 3 - 4x )=2
If A and B are any events, the property that is not always true is: a) 0 ≤ 𝑃(𝐴 ∩ 𝐵) ≤ 1 b) 𝑃(Ω) = 1 c) 𝑃(𝐵) = 1 − 𝑃(𝐵𝑐) d) 𝑃(∅) = 0 e) 𝑃(𝐴 ∪ 𝐵) = 𝑃(𝐴) + 𝑃(𝐵)
If X1 and X2 are independent standard normal variables, find P(X1^2 + X2^2 > 2.41)
There are 3 orchards, a, b and c. Orchard a has 60 fewer trees than orchard b orchard c has 3 times as many trees as orchard b. If the three orchards have 430 trees altogether, how many trees does orchard c have?
Find each coefficient described. Coefficient of u^2 in expansion of (u - 3)^3
Calculate the difference between 407 and 27
48 kg of 30% sulfuric acid in a mixture of 10% and 40% sulfuric acid arose. How many kilograms were each of the original solutions?
a) Statistics scores are normally distributed with the mean of 75 and standard deviation of 7. What is the probability that a student scores between 80 and 88
A membership to the gym cost $25 per person in 1995. The membership cost has increased by an average $6 per person for each year since 1995. Write a linear equation for the cost of a gym membership for one person since 1995. What is the cost of a gym membership in 2009?
A group of 17 people spent 9 days on vacation and spent R$776.34 on barbecue meat and the bill needs to be divided as follows: 6 people stayed for 9 days, 7 people stayed for 4 days, and 2 people stayed for 5 days and 2 people stayed 3 days, how much does each group have to pay for the days they stayed?
Select a variable and collect at least 50 data values. For example, you may ask the students in the college how many hours they study per week or how old they are, etc. a. Explain what your target population was. b. State how the sample was selected. c. Summarise the data by using a frequency table. d. Calculate all the descriptive measures for the data and describe the data set using the measures. e. Present the data in an appropriate way. f. Write a paragraph summarizing the data.
Write decimal as the fraction 81/125 simplified