The chances of winning are often written in terms of odds rather than probabilities. The odds of winning is the ratio of the num
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Answer:
The error E = ± 4.04 %
Step-by-step explanation:
Solution:-
- The sample data is used to estimate the population proportion ( p ).
- The success p^ = success percentage = 40 %
- The confidence interval CI = 98%
- The sample size n = 800
- The margin of error E:
- The margin of error "E" for estimation of population proportion ( p ) is given by:
Where, Z-critical value is defined by the significance level:
P ( Z < Z-critical ) = α / 2
Where, α : Significance level
α = 1 - CI
P ( Z < Z-critical ) = (1 - 0.98) / 2
P ( Z < Z-critical ) = 0.01
Z-critical = 2.33
- The error E of estimation is:
- The error E = ± 4.04 %