[See Solution] Use the prior knowledge that the industry manager salary standard deviation is σ=,) 18,000$ to answer the questions below. (4) How many


Question: Use the prior knowledge that the industry manager salary standard deviation is \(\sigma=\\) 18,000$ to answer the questions below.

  1. (4) How many randomly selected managers would you need to estimate the mean salary within \(\pm \\) 3,000$ with \(95 \%\) confidence? Show your work for credit.
  2. (2) Name two ways you could reduce the required size of this sample.

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