You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of a month for 29 customers and find that the average dollar amount spent per transaction per customer is $93.675 with a standard deviation of $10.297. When creating a 99% confidence interval for the true average dollar amount spend per customer, what is the margin of error?

Question 3 options:

1)

5.2836

2)

4.7174

3)

0.9905

4)

5.2705

5)

1.9121