In a meeting, Matt estimates the average miles per gallon (MPG) of the fleet cars is 41 mpg

Business Oct 23, 2020

In a meeting, Matt estimates the average miles per gallon (MPG) of the fleet cars is 41 mpg. With a certain level of confidence, he announces the actual mpg is in the 40 to 48 mpg range. What is the margin of error?

Expert Solution

Lower confidence interval = 40

Upper confidence interval = 48

Sample Mean = (40+48)/2

Sample Mean = 44

Margin of error = 48-44

Margin of error = 4 mpg

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