To calculate the margin of error, you need to determine the critical value associated with the desired level of confidence. The margin of error is then obtained by multiplying the critical value by the standard deviation.
Let's assume you want to calculate the margin of error for a 95% confidence level. For a normal distribution, the critical value corresponding to a 95% confidence level is approximately 1.96.
Margin of Error = Critical Value * Standard Deviation
Using the given values:
Standard Deviation = 0.08
For a 95% confidence level:
Critical Value = 1.96
Margin of Error = 1.96 * 0.08
Calculating the margin of error:
Margin of Error = 0.1568
Therefore, the margin of error is approximately 0.1568