A random sample of 500 students was surveyed about their favorite color. Based on the sample, it is estimated that 40% of all students prefer blue, with an associated margin of error of 5%. Which of the following is the most plausible conclusion about all students?
Exactly 40% of all students prefer blue.
Between 35% and 45% of all students prefer blue.
Less than 35% of all students prefer blue.
More than 45% of all students prefer blue.
