In a simple random sample of 1,500 voters, 55% said they

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QUESTION:

In a simple random sample of 1,500 voters, 55% said they planned to vote for a particular proposition, and 45% said they planned to vote against it. The estimated margin of victory for the proposition is thus 10%. What is the standard error of this estimated margin? What is an approximate 95% confidence interval for the margin?

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QUESTION:

In a simple random sample of 1,500 voters, 55% said they planned to vote for a particular proposition, and 45% said they planned to vote against it. The estimated margin of victory for the proposition is thus 10%. What is the standard error of this estimated margin? What is an approximate 95% confidence interval for the margin?

ANSWER:

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A confidence interval is a statistical concept that provides a range of values within which a population parameter, such as the mean or proportion, is likely to lie. It is a way to quantify the uncertainty or variability associated with a sample estimate.

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