Answered: Assume that a sample is used to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

Assume that a sample is used to estimate a population proportion p. Find the margin of error M.E. that corresponds to a sample of size 315 with 33% successes at a confidence level of 98%.

M.E. = _____________% Round to 4 places.

Answer should be obtained without any preliminary rounding. However, the critical value may be rounded to 3 decimal places.

Expert Solution

Step 1

Obtain the margin of error.

The margin of error is obtained below as follows:

The formula for the margin of error is,

Use EXCEL Procedure for finding the critical value of z.

Follow the instruction to obtain the critical value of z:

Open EXCEL
Go to Formula bar.
In formula bar enter the function as“=NORMINV”
Enter the probability as 0.99
Enter the mean as 0 and the Standard deviation as 1.
Click enter

EXCEL output:

From the EXCEL output, the critical value of z at the 98% confidence level is 2.326.

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