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Americans with age > 50 control 50% of all discretionary income. AARP estimates that the average annual expenditure on restaurants and carry out food was
Americans with age > 50 control 50% of all discretionary income. AARP estimates that the average annual expenditure on restaurants and carry out food was $1873 for individuals in this age group. Suppose this estimate is based upon a sample of 31 people and the sample standard deviation is $500. At 95% confidence what is the MARGIN OF ERROR? (Careful here: You are being asked for the margin of error. The confidence interval will be $1873 +/- this MOE that you compute. Enter the MOE correct to 2 decimal places in the box below)
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