A CNN poll was conducted from May 7 to May 10. Among a random sample of 1001 registered voters, 511 of them supported Joe Biden. What is the margin of error for this poll? Answer in terms of percentage points. For example, 3.1 means 3.1 percentage points.
___Given Information ___
Let the number of registered voters be denoted by n and the number of people supporting Joe Biden be denoted by x.
The significance level is unknown so it is taken as 5 percent.
The proportion of people supporting Joe Biden is calculated as:
The two tailed value of at 5% significance level is calculated using standard normal table and is given by:
The Margin of error is calculated as:
The Margin of error is 0.03 that is approximately three percent.
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