Solved: What is the margin of error, Basic Statistics

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What is the margin of error

Discussion:

Q: In an effort to estimate the mean amount spent per customer for dinner at a major Atlanta restaurant, data were collected for a sample of 49 customers. Assume a population standard deviation of $5.

a. At 95% confidence, what is the margin of error?

b. If the sample mean is $24.80, what is the 95% confidence interval for the population mean?

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