Question

Starting salaries of 90 college graduates who have taken a statistics course have a mean of $43,993 and a standard deviation of $9,144. Using 99% confidence level, find the following: A. The margin of error E: _______________________________________

Answer 1

Answer:

The margin of error E for the mean salary of college graduates who have taken a statistics course is $2,4868

Step-by-step explanation:

margin of error (ME) around the mean can be calculated  using the formula

ME=$\frac{z*s}{\sqrt{N} }$ where

• z is the corresponding statistic in the 99% confidence level(2.58)

• s is the standard deviation of the sample ($9.144)

• N is the sample size (90)

Then ME=$\frac{2.58*9.144}{\sqrt{90} }$ ≈ 2,4868