Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 and $50,000. Assume that a 95% confidence interval estimate of the...

Extracted text: Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $20,000 and $50,000. 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 $400? Round your answers to next whole number. $190? $80? c. Would you recommend trying to obtain the $80 margin of error? Explain. Select your answer - Yes, it always better to be more accurate. No, the sample size would probably be too time consuming and costly.