A manufacturing company wants to randomly sample customers about their satisfaction rating on products. The company will give a gift certificate worth $25 to every customer who completes the survey. How much will it cost the company to obtain a margin of error of plus or minus±5%?

$10,000.

Step-by-step explanation:

We have been given that a manufacturing company wants to randomly sample customers about their satisfaction rating on products. The company will give a gift certificate worth $25 to every customer who completes the survey. We are asked to find the amount that will cost the company to obtain a margin of error of plus or minus ±5%.

We will use margin of error formula to solve our given problem.

, where n represents sample size.

Our given margin of error is ±5% or 0.05.

Let us solve for n.

Upon squaring both sides, we will get:

Therefore, the sample size is 400.

Since company will give a gift certificate worth $25 to every customer, so amount for giving gift certificates to 400 customers would be 400 times $25.

Therefore, it will cost $10,000 for the company to obtain a margin of error of ±5%.

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step-by-step explanation:

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