The expected population proportion that prefers to shop at places with loyalty cards is between 54.6% to 61.4% if, in a survey conducted by a retail store, 58% of the sampled respondents said they prefer to shop at places with loyalty cards. If the margin of error is 3.4%
What is the margin of error(MOE)?
It is defined as an error that gives an idea about the percentage of errors that exist in the real statistical data.
The formula for finding the MOE:
[tex]\rm Z{score}= \frac{s}{\sqrt{n} }[/tex]
Where is the z score at the confidence interval
s is the standard deviation
n is the number of samples.
The percent of sample respondents = 58%
Margin of error = 3.4%
The expected population that prefers to shop at places with loyalty cards is:
= (58±3.4%)
Take minus sign:
= 54.6%
Take plus sign:
= 61.4%
Thus, the expected population proportion that prefers to shop at places with loyalty cards is between 54.6% to 61.4% if, in a survey conducted by a retail store, 58% of the sampled respondents said they prefer to shop at places with loyalty cards. If the margin of error is 3.4%
Learn more about the Margin of error here:
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