Exhibit 8-6
A sample of 75 information system managers had an average hourly income of $40.75 with a standard deviation of $7.00.
-Refer to Exhibit 8-6. The value of the margin of error at 95% confidence is
A)80.83
B)7
C)0.8083
D)1.611

Question

Quizplus · Accepted Answer

The margin of error at 95% confidence is calculated using the formula: Margin of Error = Z * (σ/√n), where Z is the Z-score for 95% confidence (approximately 1.96), σ is the standard deviation, and n is the sample size. Here, it is 1.96 * (7/√75) ≈ 1.611.

Exhibit 8-6 A Sample of 75 Information System Managers Had an Average