A random sample of 65 individuals from the 25-30 age group was selected. After watching a 1-min video clip of the features of a new cell phone, they were asked "how much would be a fair price for that phone". The sample showed a mean $966 with a standard deviation $166. The 95% confidence interval for the amount this age group is willing to pay for the new phone should be $966 ± E. What is the margin of error E?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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A random sample of 65 individuals from the 25-30 age group was selected. After watching a 1-min video clip of the features of a new cell phone, they were asked "how much would be a fair price for that phone". The sample showed a mean $966 with a standard deviation $166. The 95% confidence interval for the amount this age group is willing to pay for the new phone should be $966 ± E. What is the margin of error E? 

 

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