Question

use the confidence interval to find the estimated margin of error. then find the sample mean. a store manager reports a confidence interval of (48.2,80.8) when estimating the mean price (in dollars) for the population of textbooks. the estimated margin of error is (type an integer or a decimal.)

Explanation:

Step1: Recall the formula for margin of error

The margin of error \(E=\frac{\text{Upper limit}-\text{Lower limit}}{2}\)

Step2: Substitute the values

Given lower limit \(L = 48.2\) and upper limit \(U=80.8\)
\(E=\frac{80.8 - 48.2}{2}=\frac{32.6}{2}\)

Step3: Calculate the value

\(E = 16.3\)

Answer:

\(16.3\)