Math Problem Statement
A survey was given to a random sample of 50 residents of a town to determine whether they support a new plan to raise taxes in order to increase education spending. Of those surveyed, 20 respondents said they were in favor of the plan. At the 95% confidence level, what is the margin of error for this survey expressed as a proportion to the nearest thousandth? (Do not write plus or minus±).
Solution
To find the margin of error for the survey at the 95% confidence level, we can use the formula for the margin of error (ME) in a proportion:
Where:
- is the z-score corresponding to the desired confidence level (for 95% confidence, ),
- is the sample proportion,
- is the sample size.
Given:
- Sample size ,
- Number of favorable responses ,
- Proportion .
Let's calculate the margin of error:
So, the margin of error for this survey at the 95% confidence level is approximately 0.135.
Would you like to go through the steps in more detail or ask about related concepts? Here are some questions that might be useful:
- What is the significance of the 95% confidence level?
- How does the sample size affect the margin of error?
- What would happen to the margin of error if the sample proportion were closer to 0 or 1?
- How is the z-score determined for different confidence levels?
- What would the margin of error be for a different sample size?
Tip: The margin of error decreases as the sample size increases, which means larger samples provide more precise estimates.
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Math Problem Analysis
Mathematical Concepts
Statistics
Margin of Error
Confidence Intervals
Formulas
Margin of Error (ME) = z * sqrt(p(1-p)/n)
Theorems
Central Limit Theorem
Suitable Grade Level
Grades 10-12
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Margin of Error for Confidence Interval [14.70, 19.20]