Answer:
First, subtract the budgeted amount from the actual expense. If this expense was over budget, then the result will be positive.
Next, divide that number by the original budgeted amount and then multiply the result by 100 to get the percentage over budget. If your expenses were lower than your budgeted amount, then this number will be negative, describing the percentage under budget.
Answer:
Margin of error of 0.0485 hours.
Step-by-step explanation:
We have that to find our level, that is the subtraction of 1 by the confidence interval divided by 2. So:
Now, we have to find z in the Ztable as such z has a pvalue of .
That is z with a pvalue of , so Z = 1.96.
Now, find the margin of error M as such
In which is the standard deviation of the population and n is the size of the sample.
In this question:
The margin of error is of:
Margin of error of 0.0485 hours.
