You have hired a polling organization to take a simple random sample from a box of 200,000 tickets ...
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You have hired a polling organization to take a simple random sample from a box of 200,000 tickets and estimate the percentage of 1s in the box. Unknown to them, the box contains 50% 0s and 50% 1s. How far off should you expect them to be if they draw 50,000 tickets?
Answer
a.
1.50%
b.
0.17%
c.
0.20%
d.
0.23%
e.
0.19%
8 years ago
They would be off by √(0.5 * 0.5/50000) ...
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