Mika is a local farmer who is interested in how often residents in her town go to a farmer's market each month. She surveys 124 families and finds that, on average, those families visit a farmers' market 4.2 times per month with a sample standard deviation of 1.3. If Mika wants to be 99% confident (z=2.58) using this sample, what should her margin of error be and what does it mean?

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joaobezerra joaobezerra · Answer 1 · 2021-05-24T02:09:15+02:00

Answer:

The margin of error is of 0.3012, and it means that we should be 99% confident that the population mean would be within 0.3012 of the sample mean.

Step-by-step explanation:

Margin of error

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

In which [tex]\sigma[/tex] is the standard deviation and n is the size of the sample.

Standard deviation of 1.3

This means that [tex]\sigma = 1.3[/tex]

She surveys 124 families

This means that [tex]n = 124[/tex]

Margin of error and meaning:

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

[tex]M = 2.58\frac{1.3}{\sqrt{124}}[/tex]

[tex]M = 0.3012[/tex]

The margin of error is of 0.3012, and it means that we should be 99% confident that the population mean would be within 0.3012 of the sample mean.