APPLIED STAT.IN BUS.+ECONOMICS
APPLIED STAT.IN BUS.+ECONOMICS
6th Edition
ISBN: 9781259957598
Author: DOANE
Publisher: RENT MCG
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Chapter 8.6, Problem 32SE

Find the margin of error for a poll, assuming that π = .50.

  1. a. n = 50
  2. b. n = 200
  3. c. n = 500
  4. d. n = 2,000

a.

Expert Solution
Check Mark
To determine

Find the margin of error for a poll assuming π=0.50.

Answer to Problem 32SE

The margin of error for a poll assuming π=0.50 is 0.1386.

Explanation of Solution

Calculation:

The given information is that n=50 and π=0.50.

Margin of error for a poll:

The formula for the Margin of error for a poll typically based on a 95% confidence level is, zπ(1π)n .

From TABLE 8.9: Common Confidence Levels and z-Values, the z-value at 95% confidence level is 1.96.

Substitute z=1.96,π=0.50 and n=50 in the formula for Margin of error.

zπ(1π)n=1.960.50(10.50)50=1.960.2550=1.960.005=1.96(0.0707)0.1386

Thus, the margin of error for a poll assuming π=0.50 is 0.1386.

b.

Expert Solution
Check Mark
To determine

Find the margin of error for a poll assuming π=0.50.

Answer to Problem 32SE

The margin of error for a poll assuming π=0.50 is 0.0694.

Explanation of Solution

Calculation:

The given information is that n=200 and π=0.50.

Substitute z=1.96,π=0.50 and n=200 in the formula for Margin of error.

zπ(1π)n=1.960.50(10.50)200=1.960.25200=1.960.00125=1.96(0.0354)0.0694

Thus, the margin of error for a poll assuming π=0.50 is 0.0694.

c.

Expert Solution
Check Mark
To determine

Find the margin of error for a poll assuming π=0.50.

Answer to Problem 32SE

The margin of error for a poll assuming π=0.50 is 0.0439.

Explanation of Solution

Calculation:

The given information is that n=500 and π=0.50.

Substitute z=1.96,π=0.50 and n=500 in the formula for Margin of error.

z0.025π(1π)n=1.960.50(10.50)500=1.960.25500=1.960.0005=1.96(0.02236)0.0439

Thus, the margin of error for a poll assuming π=0.50 is 0.0439.

d.

Expert Solution
Check Mark
To determine

Find the margin of error for a poll assuming π=0.50.

Answer to Problem 32SE

The margin of error for a poll assuming π=0.50 is 0.022.

Explanation of Solution

Calculation:

The given information is that n=2,000 and π=0.50.

Substitute z=1.96,π=0.50 and n=2,000 in the formula for Margin of error.

zπ(1π)n=1.960.50(10.50)2,000=1.960.252,000=1.960.000125=1.96(0.01118)0.022

Thus, the margin of error for a poll assuming π=0.50 is 0.022.

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Chapter 8 Solutions

APPLIED STAT.IN BUS.+ECONOMICS

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