in a survey, 25 people were asked how much they spent on their child's last birthday gift. the results were roughly bell-shaped with a mean of $33 and standard deviation of $2. find the margin of error at a 80% confidence level. give your answer to two decimal places.

25 people were asked how much they spent on their child's last birthday gift. the results were roughly bell-shaped with a mean of $33 and standard deviation of $2.

To find the margin of error at a 80% confidence level.

Now, According to the question;

How to solve for the margin of error?

The margin of error can be used to provide the data that has to do with the amount of sampling error that would be in a given data statistic.

We would have to calculate the amount of error using the data that we have below.

We have the following values

number n = 25

mean u = 33

standard deviation (sd) = 2

The level of confidence c i = 80% = 0.80

we have to find the critical value

degree of freedom = 1 - 0.80

= 0.20

zα/2

= 0.20 / 2 = 0.10

= 1.383

The margin of error

= zα / 2 x s / √n

= 1.383 x 2/√25

= 1.383 x 2/5

= 0.5532

Hence, the number of people in the survey is 25, s = 2 and mean = 33, the margin of error is given as 0.5532

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