Example 2: Movie Goers are More Likely to Watch at Home In a random sample of 500 movie goers in January 2013, 320 of them said they are more likely to wait and watch a new movie in the comfort of their own home.  Sample Size and Margin of Error for Movie Goers  (a)  What is the margin of error for the confidence interval found in Example 2?     (b)  What sample size is needed if we want a margin of error within ±2%?  (Use the sample proportion from the original sample.)     (c)  What sample size is needed if we want a margin of error within ±2%, and if we use the conservative estimate of p = 0.5?

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A:

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.