Assignment:
Annual salary plus bonus data for chief executive officers are presented in the BusinessWeek Annual Pay Survey. A preliminary sample showed that the standard deviation is $675 with data provided in thousands of dollars. How many chief executive officers should be in a sample if we want to estimate the population mean annual salary plus bonus with a mar-gin of error of 5100.000? ( Note: The desired margin of error would be E = 100 if the data are in thousands of dollars.) Use 95% confidence. The National Center for Education Statistics reported that 47% of college students work to pay for tuition and living expenses. Assume that a sample of 450 college students was used in the study.
a. Provide a 95% confidence interval for the population proportion of college students who work to pay for tuition and living expenses.
b. Provide a 99% confidence interval for the population proportion of college students who work to pay for tuition and living expenses.
c. What happens to the margin of error as the confidence is increased from 95% to 99th?
Provide complete and step by step solution for the question and show calculations and use formulas.