Determine the margin of error in estimating the population mean, μ . A sample of 74 college students yields a mean annual income

Question

4 years ago

12

of Assuming that , find the margin of error in estimating μ at the 99% level of confidence.

1 answer:

Julli [10] · Answer 1 · 2021-12-14T20:31:38+03:00

Julli [10]4 years ago

7 0

Answer:

$253

Step-by-step explanation:

Margin of error is the critical value times the standard error.

MoE = z × σ/√n

At 99% confidence, z = 2.576.

MoE = 2.576 × 844/√74

MoE = 253