You are trying to estimate the average starting salary for students graduating from marketing. You know the population is normal and the standard deviation is $5,000. The mean of your sample of 36 students is $24,000. a. Develop a 96% confidence interval estimate for the population mean starting salary. b. Develop a 95% confidence interval estimate for the population mean starting salary. C. How large a sample must you pick so that your margin of error will be $500 or less with 95% confidence? 2. You have decided to open a new Pub called Moe's. Your research tells you that the majority of your patrons will be 25 or younger. You decided to calculate the average age of people living close to your Pub. You sample 25 people and calculate anyaverage age of 26 with a standard deviation of 6 years. You are certain the distribution is notmal. a. Calculate the 95% confidence interval for the above distribution. b. Calculate the 90% confidence interval for the above distribution. c. Suppose you wanted to calculate the average age so that your margin of error was within 1.5 years at the 95% level of confidence. How large a sample must you choose?