Answer:
We are 95% confident that the proportion of American voters who favor congressional term limits is 64 percent with a difference of 3% for small sample size.
Step-by-step explanation:
95 % confidence means that we are 95 % confident that the the proportion of American voters who favor congressional term limits is 64 percent.
95 % confidence means that of all the sample about 95 % values are within in the given range.
And only 5% sample are not included in the given parameter.
Margin of error is the amount of miscalculation or difference in change of circumstances from the obtained data.
3% margin of error usually occurs when the data size is small.
As the data size increases the margin of error decreases.
So this statement tells us that we are 95% confident that the proportion of American voters who favor congressional term limits is 64 percent with a difference of 3% for small sample size.
Margin of error= z *σ/√n→
This indicates that as the sample size decreases the margin of error increases and vice versa.
