TJ is investing his birthday money in a savings account that pays 3% interest. If he invests $200, how much will he have at the
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Answer:
The margin of error that corresponds to a 95% confidence interval is 4.96.
Step-by-step explanation:
We have the standard error(which is the same as the standard deviation of the sample), so we use the students t-distribution to solve this question.
The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. There are 6 days, so
df = 6 - 1 = 5
95% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 35 degrees of freedom(y-axis) and a confidence level of ). So we have T = 2.5706
The margin of error is:
M = T*s = 2.5706*1.93 = 4.96
The margin of error that corresponds to a 95% confidence interval is 4.96.