Math Problem Statement
In a survey, 19 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $46 and standard deviation of $5. Find the margin of error at a 80% confidence level.
Give your answer to two decimal places.
M E
±
Solution
To calculate the margin of error (ME) for the given data, we can use the formula for the margin of error at a confidence level:
Where:
- is the z-value corresponding to the 80% confidence level,
- is the standard deviation,
- is the sample size.
Step 1: Find the Z-value for an 80% confidence level
For an 80% confidence level, the remaining 20% is split between both tails of the normal distribution, leaving 10% (0.10) in each tail. From the Z-table, the critical z-value for 80% confidence is approximately 1.28.
Step 2: Apply the formula
Given:
- ,
- ,
- ,
The margin of error is calculated as:
Final Answer:
Would you like a more detailed explanation of any step or have any other questions?
Here are 5 related questions you might find useful:
- How is the z-value determined for different confidence levels?
- What factors influence the margin of error in a survey?
- How does sample size affect the margin of error?
- What is the relationship between confidence level and the width of a confidence interval?
- How can the margin of error be reduced in surveys?
Tip: The margin of error decreases as the sample size increases, making your estimates more precise.
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Math Problem Analysis
Mathematical Concepts
Statistics
Confidence Intervals
Margin of Error
Normal Distribution
Formulas
ME = Z_{α/2} × (σ / √n)
Theorems
Empirical Rule
Central Limit Theorem
Suitable Grade Level
College Level Statistics
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