A survey was given to a random sample of the residents of a town to determine whether they support a new plan to raise taxes in order to increase education spending. The survey reported a confidence interval that between 43.5% and 48.5% of the residents supports the plan. What is the margin of error on the survey?
Question
A survey was given to a random sample of the residents of a town to determine whether they support a new plan to raise taxes in order to increase education spending. The survey reported a confidence interval that between 43.5% and 48.5% of the residents supports the plan. What is the margin of error on the survey?
Solution
The margin of error in a confidence interval is the range of values below and above the sample statistic in a confidence interval. In this case, the confidence interval is between 43.5% and 48.5%.
To calculate the margin of error, you subtract the lower limit of the interval from the upper limit, and then divide by 2.
Here's how you do it:
Step 1: Subtract the lower limit from the upper limit. 48.5% - 43.5% = 5%
Step 2: Divide the result by 2. 5% / 2 = 2.5%
So, the margin of error on the survey is 2.5%.
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