What Is the Margin of Error for a 99% Confidence

question 108

Short Answer

What is the margin of error for a 99% confidence interval for the population proportion of people that own more than one mobile phone, if a random sample of 50 people was taken, and 10 of these had more than one mobile phone?

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Definitions:

Bargained-For Exchange

A fundamental principle in contract law where both parties must exchange something of value for a contract to be considered valid and enforceable.

Genuine Assent

The agreement to enter into a contract based on a clear understanding of its terms, without any duress, fraud, or undue influence.

Undue Influence

An improper or wrongful pressure exerted on a person, resulting in the person acting against their free will or in a manner not reflective of their intent.

Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.