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A sample of 68 college students yields a mean annual income of $3248 and a standard deviation of $885. Find the margin of error in estimating μ at the 99% level of confidence.

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Samarpanta500id

Answer:

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margin of error is t(0.995 df=67)*s/sqrt(n)

t=2.65

the margin of error is 2.65*885/sqrt(68)=$284.40