Find the value of the expression

3. Using the sample size of 800 and the proportion 0.47, calculate the margin of error associated with the estimate of the propo

salantis [7]

Answer:

$ME=1.96\sqrt{\frac{0.47 (1-0.47)}{800}}=0.0346$

Step-by-step explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The population proportion have the following distribution

$p \sim N(p,\sqrt{\frac{p(1-p)}{n}})$

Solution to the problem

We assume for this case a confidence level of 95%. In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by $\alpha=1-0.95=0.05$ and $\alpha/2 =0.025$ . And the critical value would be given by:

$z_{\alpha/2}=-1.96, z_{1-\alpha/2}=1.96$

The confidence interval for the mean is given by the following formula:

$\hat p \pm z_{\alpha/2}\sqrt{\frac{\hat p (1-\hat p)}{n}}$

The margin of error for the proportion interval is given by this formula:

$ME=z_{\alpha/2}\sqrt{\frac{\hat p (1-\hat p)}{n}}$ (a)

And if we replace the values obtained we got this:

$ME=1.96\sqrt{\frac{0.47 (1-0.47)}{800}}=0.0346$

6 0

2 years ago

At one farmer’s market, bananas cost $0. 80 per pound. At another farmer’s market, bananas are sold in 5-pound bags for $4. 50 p

Minchanka [31]

To find the better buy divide 4.50 by 5 to find the unit rate for the 5-pound bag, and compare that number to $0. 80 per pound.

<h3>What is cost price per pound?</h3>

The cost price per pound is the amount of money required to buy one pound of a brand or goods.

To find the cost price per pound, divide the total amount of cost of the goods to the total number of goods.

At one farmer’s market, bananas cost $0.80 per pound.

At another farmer’s market, bananas are sold in 5-pound bags for $4. 50 per bag. To compare it with first market price, divide the 5 pound bags with $4.50.

The cost of one bag in this market is,

$C=\dfrac{4.50}{5}\\C=0.5625$

As this cost is less, thus, the cost of this market for one banana is less than the first market and so this is the better buy.

Hence, to find the better buy divide 4.50 by 5 to find the unit rate for the 5-pound bag, and compare that number to $0. 80 per pound.

Learn more about the cost price per pound here;

brainly.com/question/20333618

4 0

1 year ago

A bag of marbles contains 40 red marbles, 54 blue marbles, and 29 yellow marbles. Which of the following represents the ratio of

JulsSmile [24]

Answer:

$\frac{29}{40}$