Jenny is buying gifts for her family. So far she has spent $45.95, and she has one more gift to buy. She started with a total of
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If the sample size is 1488 and confidence interval of 99% then the margin of error is 0.03088.
Given sample size of 1488, percentage of those polled own a home be 69% and confidence level be 99%.
We are required to find the approximate margin of error.
Margin of error is the difference between calculated values and real values.
n=1488
p=0.69
Margin of error=z*
Z score when confidence level is 99%=2.576.
Margin of error=2.576*
=2.576*
=2.576*
=2.576*
=2.576*0.01198
=0.03088
Hence if the sample size is 1488 and confidence interval of 99% then the margin of error is 0.03088.
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