The correct margin of error calculation is 0.025.
To calculate the margin of error for a population mean estimate, you can use the formula:
Margin of Error = z * (standard deviation / sqrt(sample size))
Where z is the critical value for the desired confidence level.
For a 98% confidence level, the critical value is 2.33.
Plugging in the values:
Margin of Error = 2.33 * (0.5 / sqrt(1503))
Margin of Error = 2.33 * (0.5 / 38.75)
Margin of Error = 2.33 * 0.0129
Margin of Error = 0.025
Therefore, the correct calculation for the margin of error is 0.025.
Which of the following correctly calculates the margin of error of population mean estimate if the sample size is 1,503, the confidence level is 98%, and the standard deviation is 0.5?(1 point) Responses 0.025 0.025 0.028 0.028 0.04 0.04 0.03
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