Margin of Error.

Question

A pet supply company wants to find out how satisfied their customers are with their service and inventory.

Assume that a survey was conducted of 500 people and 472 customers said that they were satisfied with the service.

1. Find the margin of error for the sample.

2. Find the range of percentages of customers who were likely to be satisfied with their service.

3. Use all of this information to write a statistical conclusion about the survey using complete sentences.

Answer 1

1. The margin of error = 1/500^0.5 = 0.045
2. 472/500 = 0.944. Range = 0.944 +/- 0.045 = 0.899 to 0.989
3. Survey shows that 94.4% of the customers are satisfied, the survey having a margin of error of 4.5%.