The monthly starting salaries of students who receive an MBA degree have a standard deviation of $110. What size sample should be selected to obtain a 0.95 probability of estimating the mean monthly income within $20 or less

Step-by-step explanation:

Using the formula for calculating margin error to tackle the question.

Margin error =

Z is the value at 95% confidence

is the standard deviation

n is the sample size to be estimated

Since the  mean monthly income is within $20 or less, our margin error will be $20

Given = $110, Z value at 95% confidence = 1.96 we can calculate the sample side n.

Making n the subject of the formula from the equation above;

Substituting the give value into the resulting expression;

This shows that the sample size that should be selected to obtain a 0.95 probability of estimating the mean monthly income within $20 or less is approximately 116.21

ab will be equal to