Question

an ice cream company surveyed 1000 random individuals to see if they prefer chocolate or vanilla ice cream. of those surveyed, 550 preferred chocolate. the ice cream company simulated the survey and found the margin of error to be 40.
what does the margin of error mean in relation to this survey? move numbers to the blanks to complete the sentence.
the population mean for individuals preferring chocolate is estimated as being a value within the interval of ____ to __ because ____ % of the sample means from the simulation trials fell within this interval.
40 55 95 510 550 530 570 590

Explanation:

Step1: Recall margin - of - error concept

The margin of error is used to create a confidence interval around the sample mean. The sample mean of individuals preferring chocolate is 550 and the margin of error is 40.

Step2: Calculate lower bound

The lower bound of the confidence interval is the sample mean minus the margin of error. So, $550 - 40=510$.

Step3: Calculate upper bound

The upper bound of the confidence interval is the sample mean plus the margin of error. So, $550 + 40 = 590$.

Step4: Recall confidence level

In a typical situation, when using a margin of error, about 95% of the sample means from simulation trials fall within the confidence - interval.

Answer:

The population mean for individuals preferring chocolate is estimated as being a value within the interval of 510 to 590 because 95% of the sample means from the simulation trials fell within this interval.