Exhibit 11-7
The results of a recent poll on the preference of shoppers regarding two products are shown below.

-Refer to Exhibit 11-7. The standard error of is
A)52
B)0.044
C)0.0225
D)100

Question

Exhibit 11-7
The results of a recent poll on the preference of shoppers regarding two products are shown below.
 
-Refer to Exhibit 11-7. The standard error of  is
A)52 
B)0.044 
C)0.0225 
D)100

Quizplus · Accepted Answer

The standard error can be calculated as the square root of [(p1 q1/n1) + (p2 q2/n2)], where p1 and p2 are the proportions of shoppers who prefer product A and B respectively, q1 and q2 are the complements of p1 and p2 respectively, and n1 and n2 are the sample sizes. Plugging in the values from the exhibit, we get [(0.6x0.4/200) + (0.4x0.6/200)]^(1/2) = 0.0225. Therefore, the standard error is 0.0225.

Exhibit 11-7 the Results of a Recent Poll on the Preference of Preference