In a survey, 17 people were asked how much they spent on their child's last birthday...

In a survey, 17 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $34 and standard deviation of $8. Find the margin of error at a 95% confidence level.

Give your answer to two decimal places.

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Expert Solution

calculation in excel:

Sample Size	17
Sample Mean	34
Standard Deviation	8

Confidence Coefficient	0.95
Significant level	0.05
Margin of error	3.80

formula to find margin of error is "=CONFIDENCE(significance level,standard deviation,sample size)"

so the MArgin of error is 3.80

In detail:

orchestra answered 1 year ago

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