Example Problem #5 (Margin of Error)

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• Due Jul 16 by 11:59pm
• Points 100
• Submitting a text entry box or a file upload
• Available after Jul 13 at 12am

Example:

You are launching a new health product in the market but you are confused about which flavor will people like. You are confused between banana flavor and vanilla flavor and have decided to conduct a survey. Your population for that is 500,000 which is your target market and out of that you decided to ask the opinion of 1000 people and that will be the sample. Assume that a confidence interval is 90%. Calculate the margin of error.