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In Question 14, if both the confidence level and the margin of error increase, how will the minimum sample size change?
The analyst would like to estimate the average of the salaries in the study to within $50 at a 95% confidence level. She assumes that the standard deviation of the salaries is about the same as that of 2020, and is to construct a confidence interval based on a random sample. What is the minimum sample size that would meet the requirement in the objective?