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After surveying 500 college students, a marketing company found that the average amount of time college students spend doing laundry is 2 hours per week.  The standard deviation is 0.25 hour, and confidence interval is 95%.  (Note: The critical value for a 95% confidence interval is 1.96.)  Use the formula below to find the margin of error, where s is the standard deviation and n is the sample size.  Margin of Error = 1.96(sn√)

Question

After surveying 500 college students, a marketing company found that the average amount of time college students spend doing laundry is 2 hours per week.  The standard deviation is 0.25 hour, and confidence interval is 95%.  (Note: The critical value for a 95% confidence interval is 1.96.)  Use the formula below to find the margin of error, where s is the standard deviation and n is the sample size.  Margin of Error = 1.96(sn√)

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Solution

To find the margin of error, we need to plug the given values into the formula.

The formula is: Margin of Error = 1.96 * (s/√n)

Where: s = standard deviation = 0.25 hour n = sample size = 500

So, the calculation will be as follows:

Margin of Error = 1.96 * (0.25/√500)

First, calculate the denominator (the square root of n):

√500 = 22.36 (rounded to two decimal places)

Then, divide the standard deviation by the square root of n:

0.25/22.36 = 0.011 (rounded to three decimal places)

Finally, multiply this result by the critical value:

1.96 * 0.011 = 0.02156

So, the margin of error is approximately 0.022 hours (rounded to three decimal places). This means that the true average time college students spend doing laundry could be 0.022 hours more or less than the 2 hours found in the survey.

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