Answer:
The margin of error for a 95% confidence interval of the mean cost of the first year of owning and caring for a cat is of $43.12.
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.
Sample of 81
This means that
What is the margin of error for a 95% confidence interval of the mean cost of the first year of owning and caring for a cat?
The margin of error for a 95% confidence interval of the mean cost of the first year of owning and caring for a cat is of $43.12.