Question: A biotechnology firm is planning its investment strategy for future products and research labs. A poll found that 14% of a random sample of 1043 adults approved of attempts to clone a human. Use this information to complete arts a through e.





a) Find the margin of error for this poll if we want 95% confidence in our estimate of the percent of adults who approve of the cloning humans.




ME = ____ (Round to three decimal places as needed.)





b) Explain what that margin of error means. (Select One.)




i) The pollsters are 95% confident that the margin of error contains the true proportion of adults who approve of attempts to clone a human.
ii) The margin of error is the value that should be subtracted from the 95% confidence level to obtain the pollsters� true confidence level.
iii) The margin of error is width of the confidence interval that contains the true proportion of adults who approve of attempts to clone a human.
iv) The pollsters are 95% confident that the true proportion of adults who approve of attempts to clone a human is within the margin of error of the estimated 14%.





c) If we only need to be 99% confident, will the margin of error be larger or smaller?




i) A 99% confidence interval requires a smaller margin of error. A wider interval leads to decreased confidence.
ii) A 99% confidence interval requires a larger margin of error. In order to increase confidence, the interval must be narrower.
iii) A 99% confidence interval requires a smaller margin of error. A narrower interval leads to decreased confidence.
iv) A 99% confidence interval requires a larger margin of error. In order to increase confidence, the interval must be wider.





d) Find that margin of error.




ME = ___ (Round to three decimal places as needed.)



e) In general, if all other aspects of the situation remain the same, would smaller samples produce smaller or larger margins of error?