Self-report survey
As part of Sallie Mae's recent credit card usage study, a self-report survey was distributed to 5800 undergraduates. Of the 292 returned surveys, only 249 were complete and used in the analysis. Based on these responses, the report states, "Ninety-two percent of undergraduate credit cardholders charged textbooks, school supplies, or other direct education expenses, up from 85 percent when the study was last conducted, in 2004.''
The reported margin of error is 4%. Do you think that this small margin of error is a good measure of the accuracy of the survey's results? Explain your answer.