A financial services company wants to estimate the amount of credit card debt that students typically have when they graduate from college by generating a 98% confidence interval for the mean credit card debt of all students. Assume that, based on data from a previous study conducted two years ago, the standard deviation of student credit card debt is approximately $680. a) The company is considering using a sample size of 75 students to develop its estimate. What would be the (approximate) margin of error be for the 98% confidence interval based on a random sample of 75 students?
Percentage
A percentage is a number indicated as a fraction of 100. It is a dimensionless number often expressed using the symbol %.
Algebraic Expressions
In mathematics, an algebraic expression consists of constant(s), variable(s), and mathematical operators. It is made up of terms.
Numbers
Numbers are some measures used for counting. They can be compared one with another to know its position in the number line and determine which one is greater or lesser than the other.
Subtraction
Before we begin to understand the subtraction of algebraic expressions, we need to list out a few things that form the basis of algebra.
Addition
Before we begin to understand the addition of algebraic expressions, we need to list out a few things that form the basis of algebra.
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