A sample of 300 orders for take out food at a local pizzeria found that the average cost of an order was $23 with s=$15.

3.

A sample of 300 orders for take

out food at a local pizzeria found

that the average cost of an

order was $23 with s=$15.

a)

Find the margin of error for this result if you want a 95% confidence interval for the

average cost of an order.

b)

Interpret for the management the margin of error.

c)

If we need to be 99% confidence, does t

he margin of error become larger or smaller?

d)

Find the margin of error for a 99% confidence interval.