SOLUTION: In a survey, 25 people were asked how much they spent on their child’s last birthday gift. The results were roughly bell shaped with a mean of $38 and a standard deviation of $2.
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Question 1155829: In a survey, 25 people were asked how much they spent on their child’s last birthday gift. The results were roughly bell shaped with a mean of $38 and a standard deviation of $2. Find the margin of error at a 99% confidence level. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! margin of error is t(0.995, df=24)*s/sqrt(n), using t because essentially normal with variance not known for certain and used from the sample.
t=2.797
2.797*2/sqrt(25)=$1.119 or $1.12
