A local radio station is interested in estimating the percentage of a target market that has a favorable impression of its morning show. The marketing department wishes to estimate this proportion within +/-0.02 of the true population value and have a confidence level of 95%. A pilot sample of 30 people was selected, and the proportion in this sample with a favorable impression was 0.55.
Determine the margin of error in the pilot sample. Assume a confidence level of 95%.