Exhibit 11-1
The results of a recent poll on the preference of shoppers regarding two products are shown below.

-Refer to Exhibit 11-1. The standard error of is
A)52
B)0.044
C)0.0225
D)100

Question

Exhibit 11-1
The results of a recent poll on the preference of shoppers regarding two products are shown below.
 
-Refer to Exhibit 11-1. The standard error of  is
A)52 
B)0.044 
C)0.0225 
D)100

Quizplus · Accepted Answer

The standard error of the proportion is calculated using the formula:
SE = sqrt[(p*(1-p))/n]
where p is the proportion, and n is the sample size.
For Option 1, SE = sqrt[(0.4*(1-0.4))/320] = 0.044
For Option 2, SE = sqrt[(0.6*(1-0.6))/680] = 0.0225
Therefore, the standard error of option 2 is 0.0225, which is the best choice.

Exhibit 11-1 the Results of a Recent Poll on the Preference of Preference