In a survey, 21 people were asked how much they spent on their child's last birthday...
In a survey, 21 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $36.4 and standard deviation of $13.4. Estimate how much a typical parent would spend on their child's birthday gift (use a 80% confidence level). Give your answers to 3 decimal places.
Express your answer in the format of x̅ ± E.
Homework Answers
As the sample size is 21 and the distribution is roughly bell shaped, t distribution based confidence interval would be appropriate for mean
Thus we get the 80% CI with E= 3.875 (this is actually the margin of error)
(36.4- 3.875,36.4+3.875 )
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