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.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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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,

Statistics homework question answer, step 1, image 1

Use EXCEL Procedure for finding the critical value of z.

 

Follow the instruction to obtain the critical value of z:

 

  1. Open EXCEL
  2. Go to Formula bar.
  3. In formula bar enter the function as“=NORMINV”
  4. Enter the probability as 0.99
  5. Enter the mean as 0 and the Standard deviation as 1.
  6. 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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