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Radda [10]
3 years ago
10

In sample of 200 economists, 147 choose the FRED database as the most popular economic database. Calculate the margin of error f

or a 97% confidence interval.
Mathematics
1 answer:
soldier1979 [14.2K]3 years ago
5 0

Answer: 0.9577

Step-by-step explanation:

Formula for margin of error (E):

E= z^*\sqrt{\dfrac{p(1-p)}{n}} , where p = sample proportion, n =sample space, z* critical z-value.

Given: n= 200

p=\dfrac{147}{200}

Critical value for 97% confidence level = 2.17

Margin of error (E) = 2.17\sqrt{\dfrac{147}{200}(1-\dfrac{147}{200})}

=2.17\sqrt{\dfrac{147}{200}(\dfrac{53}{200})}\\\\=2.17\times \sqrt{0.194775}\\\\=2.17\times0.441333207452\approx0.9577

Hence, the margin of error for a 97% confidence interval = 0.9577

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Uta invests an amount into a compound interest investment account that pays 6% a year. After six years, she withdraws her
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