Question

Use the confidence level and Sample data to find the margin of error E. Round your answer to the same number of decimal places as the sample mean unless otherwise noted.
College students annual earnings: 99% confidence; n=76, x=$3016, standard deviaton=$872

A)$233

B)$891

C)$258

D)$196

Answer 1

Answer:

C)$258

Step-by-step explanation:

Margin of error = critical value × standard error

ME = CV × SE

n > 30, so we can approximate CV with a normal distribution.  At P = 99%, CV = 2.576.

SE = σ / √n

SE = 872 / √76

SE = 100

So the margin of error is:

ME = 2.576 × 100

ME = 258