\'Time\' reported that 48% of adult Americans like the pricnciple oftax. They fu

Question

'Time' reported that 48% of adult Americans like the pricnciple oftax. They further claimed that this estimate had a sampling errorof 3%. let p equal the proportion of all adult Americans who likethe principle of a flat tax.
a. Give the endpoints for a 95% confidence interval for pgiven that the sample size was n = 800.
b. given that their reported sampling error was 3% with n =800, what is their confidence level?
a. Give the endpoints for a 95% confidence interval for pgiven that the sample size was n = 800.
b. given that their reported sampling error was 3% with n =800, what is their confidence level?

Explanation / Answer

  P = 0.48 ; sampling Error = 3% = 0.03 95% confidence limits = P ± 1.96 *pq/n                                     = 0.48±1.96*(0.48*0.52)/800 Simplify above values. Sampling error = 0.03 ; n = 800;    Sampling error=Zc* pq/n =0.03                         = Zc*(0.48*0.52)/800=0.03    simplify and get Zc value =1.698 from the standard Normal tables get confidence value(C) = 95% Hope this helps you

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