Finding Margin of error
Statistics

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Assume that a random sample is used to estimate a population proportion p. FInd the margin of error E that corresponds to the given statistics and confidence level.
98% confidence, sample size 3013, of which 15% are successes.
I'm confused on how to find it
Thank you for the opportunity to help you with your question!
The standard error of the mean of a binomial distribution Bi (3013, 0.15)= pq/ √n
= 0.15 × (1  0.15) /√3013 = 0.002322794
margin of error = 98% critical value × standard error
= 2.33 × 0.002322794
= 0.005412
(roughly half a percentage point)
Please let me know if you need any clarification. I'm always happy to answer your questions.
i looked and it came back that it was wrong.I'm so confused
What is the answer then because you can check from the internet the definition of margin of error and you can check the formula for standard error.
Margin of Error
In a confidence interval, the range of values above and below the sample statistic is called the margin of error.
For example, suppose we wanted to know the percentage of adults that exercise daily. We could devise a sample design to ensure that our sample estimate will not differ from the true population value by more than, say, 5 percent (the margin of error) 90 percent of the time (the confidence level).
How to Compute the Margin of Error
The margin of error can be defined by either of the following equations.
Margin of error = Critical value x Standard deviation of the statistic
Margin of error = Critical value x Standard error of the statistic
If you know the standard deviation of the statistic, use the first equation to compute the margin of error. Otherwise, use the second equation. Previously, we described how to compute the standard deviation and standard error.
sorry the standard error is
The standard error of the mean of a binomial distribution Bi (3013, 0.15)=√ pq/ √n
= √[0.15 × (1  0.15)] /√3013 = 0.006505
margin of error = 98% critical value × standard error
= 2.33 × 0.006505
= 0.01516
(roughly one percentage point)
Is it ok now.
You can ask me another question (free) using this dialogue to make up for the mistake. Sorry!
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