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.
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
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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,
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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