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Learning Goal: I’m working on a business question and need guidance to help me learn.The paper needs to have three (3) academic references which are cited in the paper.In an APA formatted Word document complete the following:Part 1. Explain the concept of ‘margin of error’ in deciding the size of a sample.Part 2 – Explain the following terms with an examplePoint estimate
Interval estimate
Confidence interval
Confidence limits
Confidence coefficients or critical values.
Part 3 – In a survey carried out in a large city, 170 households out of a random sample of 250 owned at least one pet. Find the 95 per cent confidence interval for the percentage of households in the city who own at least one pet. Does the result support a pet food manufacturer’s claim that 75 per cent of all households have at least one pet?The paper has to have a title, introduction and reference page. The paper should be no more than 1000 words and no less than 750 words.The title and reference pages do not count toward the word count.
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