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Answer:
0.01521
Step-by-step explanation:
The Margin of Error for Difference in Proportions is given as:
z × √p1 × (1 - p1)/n1 - p2 × (1 - p2)/n2
z = z score for 95% confidence interval
= 1.96
In 2018, out of 1542 respondents, 415 said it was the most important.
p1 = x1/n1
x1= 326 n1 = 1323
p1 = 326/1323
0.246409675
Approximately = 0.246
In 2012, out of 1323 respondents, 326 said it was the most important.
p2 = x2/n2
x2 = 415, n2 = 1542
p2= 415/1942
p2 = 0.2136972194
Approximately = 0.214
Margin of Error =
1.96 × √0.246× (1 - 0.246)/1323- 0.214 × (1 - 0.214)/1542
1.96 × √0.0005699169 - 0.0005097276
1.96 × √(0.0000601893)
1.96 × 0.0077581763
= 0.0152060256
Approximately = 0.01521
Therefore, Margin of Error = 0.01521
You can use the formula for margin of error for difference in proportion to find the margin of error with 95% confidence.
The margin of error with 95% confidence for the given data is given by
MOE = 0.32
How to calculate margin of error for difference in proportion to find the margin of error ?
Suppose we've two samples with sample sizes [tex]n_1[/tex] and [tex]n_2[/tex] respectively. Let the interested quantities found out in those samples out of their sample sizes are [tex]x_1[/tex] and [tex]x_2[/tex] respectively. Then we have the margin of error for difference in proportion to find the margin of error as:
[tex]MOE = Z_{\alpha/2} \times \sqrt{\dfrac{p_1(1-p_1)}{n_1} + \dfrac{p_2(1-p_2)}{n_2}}[/tex]
where we have:
[tex]p_1 = \dfrac{x_1}{n_1}\\\\p_2 = \dfrac{x_2}{n_2}[/tex]
and
[tex]\alpha = \text{Level of significance}[/tex]
Using the given data to get the margin of error
[tex]Year = 2015\\n_1 = 1542\\x_1 = 415\\\\Year = 2012\\n_2 = 1323\\x_2 = 326\\\\\alpha = 100-95\% = 1-0.95 = 0.05[/tex]
For 95% confidence, we have Z score as 1.96
The proportions are calculated as:
[tex]p_1 = \dfrac{415}{1542} = 0.269\\\\p_2 = \dfrac{326}{1323} = 0.246[/tex]
Thus, margin of error is calculated as
[tex]MOE = 1.96 \times \sqrt{\dfrac{0.269 \times 0.731}{1542} + \dfrac{0.246 \times 0.754}{1323}} = 1.96 \times \sqrt{0.000127 + 0.00014}\\\\MOE = 1.96 \times 0.01634 = 0.032[/tex]
The margin of error with 95% confidence for the given data is given by
MOE = 0.32
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